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Nonprofit GAAP Update

Date: Wednesday, April 17, 2019
Time: 1:00 - 2:30 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $199.00

Registration - Live Webinar Plus CD Recording: $268.00
 

Gain a better understanding of the new standards and stay updated and informed on what needs to be implemented.

It’s been over 20 years since the FASB did a complete re-evaluation of the financial reporting model used by nonprofit organizations. ASU 2016-14 Presentation of Financial Statements of Not-for-Profit Entities is a result of that process and will bring some important new changes to the financial statements of nonprofits.

At the same time, new FASB requirements for revenue recognition including specific guidance for nonprofits’ contribution and grant income and leases, will also have significant impacts.

Preparers, auditors and readers of nonprofit organization financial statements need to keep abreast of these changes, and this content is designed to provide you with practical information related to all these changes.

Learning Objectives:

  • You will be able to describe net asset classifications under the new model.
  • You will be able to review information about assessing liquidity and availability of financial resources.
  • You will be able to discuss disclosures about cost allocations.
  • You will be able to identify FASB nonprofit projects on the horizon.
This Live Webinar Covers These Hot Issues

Overview of the Project to Revise the Nonprofit Reporting Model That Resulted in the Issuance of ASU 2016-14 Presentation of Financial Statements of Not-For-Profit Entities

Net Asset Classifications Under the New Model

Information About Assessing Liquidity and Availability of Financial Resources

Reporting External and Direct Internal Investment Expenses

Reporting Expenses by Function and Natural Classification

Disclosures About Cost Allocations

Impact of Revenue Recognition Standards on Not-For-Profit Organizations

Clarifying the Scope of the Revenue Recognition Standards on Contributions and Grants (ASU 2018-08)

Preparing for the New Lease Accounting Standards

FASB Nonprofit Projects on the Horizon

Credit Information (Sponsored by Lorman Education Services):

  • CPE
  • NASBA
  • Enrolled Agents

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Warren Ruppel, CPA, Marks Paneth LLP

  • Currently, partner in the nonprofit, Government and Healthcare Group of Marks Paneth LLP, a Top 100 accounting firm based in New York
  • Author of CCH’s Knowledge Based Audits of Not-for-Profit Organizations; Wiley’s Not-for-Profit Accounting Made Easy; and Not-for-Profit Audit Committee Best Practices
  • Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting
  • Earlier in career with KPMG and Deloitte & Touche, serving numerous public sector not-for-profit and government audit clients
  • Former board member and chair of the audit committee of the New York State Society of CPA’s
  • Appears quarterly as the government specialist on the CPA report distributed by SmartPros

(Not available outside the US)