Not-for-Profit Organizations Accounting Conference-Now Fully Virtual (NPCWEB)

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Thursday, May 28, 2020
Introduction and Opening Remarks
8:00am-8:10am
General Sessions

Implementing Digital Communications, Collaboration and Knowledge Sharing in Your NFP Organzation (Credits: 1.0 TB)
8:10am-9:00am

John Higgins, CPA, CIPT
Strategic Technology Advisor / CPA Crossings, LLC
Rochester, MI

When it comes to information technology, you can undertake complex and expensive initiatives, or you can go after the "low hanging fruit." Explore how you can harness the power of Microsoft Teams and other Office 365 apps to implement a comprehensive communications, collaboration and knowledge sharing platform quickly and inexpensively.


FASB Update: What You Need to Know (Credits: 1.0 AA)
9:00am-9:50am

Jeffrey D. Mechanick, CPA, CGMA
Assistant Director-Nonpublic Entities / Financial Accounting Standards Board
Norwalk, CT

Learn significant developmnts in GAAP for NFPs since last year's conference: implementation matters for recent major standards (especially on revenue recognition, grants & contracts, leases), new standards, and noteworthy projects in process (especially on gifts-in-kind).


Break
9:50am-10:05am
General Sessions

Understanding and Implementing FASB's New Leases Standard (Credits: 1.0 AA)
10:00am-10:50am

Jeffrey D. Mechanick, CPA, CGMA
Assistant Director-Nonpublic Entities / Financial Accounting Standards Board
Norwalk, CT

FASB's new leases standard is upon us all - already for NFPs with public debt, soon for other NFPs.  Learn to survive (and maybe even thrive) when entering the "Brave New World" of on-balance sheet operating leases.  We'll take up where the FASB Update left off and do a deeper dive into Topic 842, using examples to explore some of the more judgmental areas, covering some FAQs and giving you some practical implementation tips.


Revenue Recognition: Getting it Right (Credits: 1.0 AA)
10:50am-11:40am

Lee Klumpp, CPA, CGMA
Partner / BDO USA, LLP
McLean, VA

Not-for-profits face many challenges in recognizing their revenue.  One of the primary challenges relates to assessing whether certain not-for-profit revenue transactions are actually contributions or exchange transactions. Furthermore, when evaluating transactions that meet the definition of a contribution, there may be a variety of other considerations including whether a contribution is conditional, an agency transaction, or a promise to give, and if it is a promise to give, whether the promise is legally enforceable. These judgments often drive the decision on whether to record revenue at a point in time or over time.  Confusion over these challenges may be compounded by the fact that not-for-profits are implementing FASB's new revenue recognition standard as well as a new FASB standard on not-for-profit financial reporting. Nonetheless, following best practices can help not-for-profit preparers and their auditors avoid common mistakes.  Learn the latest on revenue recognition and how it impacts your NFP.


Lunch
11:45am-12:40pm
General Sessions

Nonprofit Insurance and Risk Management: A New Decade Brings New Challenges (Credits: 1.0 TB)
12:40pm-1:30pm

Walter J. Ullrich III
Assistant Vice President / Wallace, Welch & Willingham, Inc
St Petersburg, FL

Now that 2020 is upon us, there are new challenges in the nonprofit risk management world.  Explore the year head along with solutions to the developing risk management issues faced by today's nonprofit agency.


Endowments & Donor Advised Funds (Credits: 1.0 TB)
1:30pm-2:20pm

Lee Klumpp, CPA, CGMA
Partner / BDO USA, LLP
McLean, VA
AND
Richard Cole, CPA
Partner / BKD CPAs & Advisors
New York, NY

Donor-advised funds (DAFs) are flexible tools which can be used for a number of charitable giving purposes. One increasingly popular use is to use an “endowment-style” DAF in lieu of a private foundation for those with charitable intentions of leaving a legacy that will continue to have an impact on the world many years into the future, given that DAFs are cheaper to operate, more tax efficient, more flexible, and eligible for higher limits on tax deductibility of contributions. However, while much attention has been given to how individuals should allocate a portfolio throughout their own lifespan, considerably less attention has been given to the question of how to best allocate a portfolio if one’s time horizon is “forever”. Especially when it has flexibility with respect to its distributions. Examine the required accounting and disclosures for endowments and donor advised funds.  Examples will be provided.


Break
2:20pm-2:35pm
General Sessions

Liquidity and Availability: Lessons Learned (Credits: 1.0 TB)
2:30pm-3:20pm

Richard Cole, CPA
Partner / BKD CPAs & Advisors
New York, NY

Review the requirements of the new liquidity and availability disclosure requirement.  Examples will be provided of how others have disclosed this information in their financial statements and the story it tells about them.


Internal Controls in the Cloud: What an Organization Should Know (Credits: 1.0 AA)
3:20pm-4:10pm

Ryan Mackie
Principal / Schellman & Company LLC
Tampa, FL

Moving to the cloud, whether it is IaaS, or SaaS, is nearly inevitable in the current market.  As a user of cloud services, it is important to understand the risk and control landscape an organization must navigate.  Learn what an organization should know when using cloud providers as a component of their supply chain.  Hear about internal control boundaries and who is responsible for what.  Explore tools and resources, such as the Cloud Security Alliance and ISO/IEC 27017:2015, that an organization can utilize when determining control boundaries and assessing internal controls.Monitor your cloud provider's controls through SOC examination and understand complementary user entity controls.


Friday, May 29, 2020
Opening Remarks
8:00am-8:10am
General Sessions

Not-for-Profit Reporting Agencies: How Best to Utilize Their Services (Credits: 1.0 TB)
8:10am-9:00am

H. Art Taylor
President/CEO / BBB Wise Giving Alliance
Arlington, VA

Studies have shown that the charity sector has experienced a decline of 20,000,000 (12%) donors since 2008.  While there are many reasons for this, the lack of trust and accountability cannot be ignored.  But how do charities achieve trustworthiness?  This session will share details of an important approach charities can use to demonstrate their trustworthiness to donors.  While the BBB Standards for Charity Accountability are a fundamental tool to improve charity practices and educate donors,  accountants and auditors would do well to apply these in their engagements with charity clients.


A Good Acronym and A Lot Of Tax Topics (Credits: 1.0 TB)
9:00am-9:50am

Richard Ruvelson
Principle / WithumSmith+Brown
Bethesda, MD

Our hour will cover the following topics: extended dates for filing Forms 990, 990-EZ, 990-PF and 990-T; a non-itemizers contribution deduction for 2020 and increased 2020 itemizer and corporate contribution deduction limitations; a single IRC Section tax rate for private foundation net investment income; the rescinding of the IRC Section 512(a)(7) application of the unrelated business income tax to employer provided parking; proposed regulations for IRC Section 512(a)(6), the "siloing" rule for unrelated business income generating activities and proposed regulations for donor advised fund (DAF) payments benefiting donors, satisfaction of donor pledges and public support implications for donor advised fund donee charities.


Break
9:50am-10:05am
General Sessions

Audit Update (Credits: 1.0 AA)
10:00am-10:50am

Lynda M. Dennis, CPA, PhD
Associate Instructor

Explore an overview of recently issued Statements on Auditing Standards as well as outstanding exposure documents issued by the Auditing Standards Board.  Discuss current initiatives of the AICPA which will affect current and future CPAs.


PPP Loans Part 2: The Coming Storm (Credits: 1.0 TB)
10:50am-11:40am

Ben Graybar
Northwestern Mutual
Tallahassee, FL

You've already been through the PPP Loan application process, now how do we get the loan balances waived?  Don't miss this important and timely session, as we make our way through these uncharted territories.


Lunch
11:45am-12:40pm
General Sessions

Government Auditing Standards Update (Credits: 1.0 AA)
12:40pm-1:30pm

Lynda M. Dennis, CPA, PhD
Associate Instructor

Explore an overview of the 2018 Government Auditing Standards (Yellow Book) and focus on the changes having the most likely impact on CPAs performing audits under these standards.  Particular attention will be given to the changes in the independence and competence standards as well as the impact of providing non-audit services on independence.


2020 Employment Law Update for Florida Employers (Credits: 1.0 TB)
1:30pm-2:20pm

Joyce Chastain
Senior Consultant / The Krizner Group
Tallahassee, FL

The risk of litigation and/or governmental fines and sanctions continues to grow.  It is more important than ever to be focused on regulatory compliance and creating a harmonious workplace. This interactive session is designed to highlight where there is rick in labor issues and offer solutions to minimize the risk. Learn about recent changes for Florida employers and how to best manage processes and people to remain in conformity with regulatory expectations.


Break
2:20pm-2:35pm
General Session

Cyber Fraud: What You Need To Know (Credits: 2.0 AA)
2:30pm-4:10pm

Robert Minniti
President / Minniti CPA LLC
Phoenix, AZ

Gain a better understanding of cyber fraud.  Learn about the various types of cyber frauds and how criminals commit these frauds.  Understand some of the legal and ethical implications involved.  Examples of real world cases will be provided to help develop an understanding of the risks involved.  We will review policies, procedures, hardware, software and internal controls that can be used to help alert organizations for they are not victimized.  This course would benefit CPAs, CFFs, CGMA, CFEs, CFOs, CEOs, and other financial professional.



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