Vexing Issues Facing Not-for-Profit Accountants
Online
2.00 Credits
Member Price $89.00
Non-Member Price $124.00
Overview
Accounting standards affecting not-for-profit (NPF) organizations have become increasingly complex, and, as a result, a great deal of confusing exists as to how to properly account for certain transactions unique to these organizations. This course will clarify proper accounting and reporting for these troubling areas. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Objectives
After attending this presentation you will be able to:
- Identify and properly respond to many of the challenges facing preparers of not-for-profit entities financial statements
- Recall core concepts fundamental to properly account for transactions unique to NFPs
- Recognize clarifications for unique reporting requirements affecting NFP organizations
- Recall significant unique challenges facing accountants who prepare of not-for-profit (NFP) entities financial statements by being familiar with the results of examples that reinforce key learning points made throughout the course
Highlights
The major topics that will be covered in this class include:
- Determining whether a transaction is a revenue versus a gain or an expense versus a loss and why that is important for proper financial reporting
- Clarifications related to agency transactions, including when variance power is present
- New definitions and requirements related to contributed services and gifts in kind
- Comparing the proper reporting for comparative versus summarized financial reporting
- Clarifications regarding the options available for reporting special events
- A greater understanding of the unique features of the statement of cash flows for NFPs
- Clarifications related to joint costs and their allocation
Designed For
Anyone responsible for preparing, reviewing, or auditing NFP organizations financial statements.
Prerequisites
None
Preparation
None
Notice
You will receive an email from CPA Crossings via Webex with instructions to access the webinar.
Leader(s):
Leader Bios
Daniel Bradley
AICPA Instructor Biography Daniel W. Bradley, CPA Young, Oakes, Brown, & Co., P.C./Altoona, Pennsylvania Dan Bradley is a principal with the regional certified public accounting firm of Young, Oakes, Brown & Co. P.C. in Altoona, Pennsylvania. He has extensive experience in performing audits of for-profit as well as governmental and not-for-profit organizations subject to the Single Audit Act and OMB Circular A-133. In addition, he has extensive experience dealing with entities (governmental units, not-for-profit organizations, and for-profit organizations) subject to the requirements of Government Auditing Standards. Dan holds a Commonwealth of Pennsylvania license to practice as a Certified Public Accountant, and received his Bachelor of Science degree in Accounting from Pennsylvania State University where he graduated with highest distinction. Mr. Bradley is a member of the American Institute of Certified Public Accountants (AICPA), the Pennsylvania Institute of Certified Public Accountants (PICPA), and the Institute of Management Accountants. He is also a long time member of the PICPA’s Local Government Accounting and Auditing Committee. As of June 1, 2007, Mr. Bradley was elected to the PICPA’s Ethics Committee. Mr. Bradley has also served as past president of his IMA chapter, as well as serving as a member of the Executive Committee of the Pennsylvania Economy League. Mr. Bradley was a past President of the Altoona Chapter of the American Business Club as well as being a member of his local March of Dimes board. In addition, Mr. Bradley has previously been an adjunct associate professor at Saint Francis College in Loretto, Pennsylvania where he is a past recipient of the Continuing Education’s Instructor of the Year Award. Mr. Bradley has been a frequent speaker and panelist on various governmental and not-for-profit programs for the AICPA, numerous state societies, the St. Francis College’s CPE Department, and numerous local entities. Mr. Bradley is a past recipient of the Continuing Professional Education Division of the American Institute of CPA’s “Outstanding Instructor” award for courses in the Commonwealth of Pennsylvania.
Non-Member Price $124.00
Member Price $89.00