Nonprofit Accounting and Financial Reporting Explained
Online
8.00 Credits
Member Price $225.00
Non-Member Price $275.00
Overview
This course provides a high-level overview of the most important issues facing nonprofit entities and their auditors. The focus of this course is on explaining the theory behind major issues and trends, enabling professionals to understand the most important aspects of relevant professional and regulatory standards related to reliable financial reporting for nonprofit entities.
Objectives
- Identify the reasons for unique accounting and financial reporting considerations for nonprofit entities
- List the key provisions of ASC 958 related to financial statement considerations for nonprofit entities
- Describe special considerations for nonprofits, such as revenue recognition for nonexchange transactions, gifts in kind, and more.
Highlights
- Discussion of financial reporting risks increased by the current economic environment, including increased uncertainty related to critical financial statement amounts and significant disclosures
- Executive summary of recent Accounting Standards Updates
- Overview of fair value disclosure requirements and implementation issues
- Discussion of issues related to donor-restricted endowment funds
- Classification of net assets and reclassifications
- Endowments, including accounting, disclosures and UPMIFA
- Noncascontributions
- Contributions received and receivable
- Expense recognition issues
- Reporting expenses by function and nature
- Other relevant matters unique to the nonprofit environment
Designed For
Anyone responsible for preparing or attesting upon nonprofit financial statements
Prerequisites
None
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/Account/loginhttps://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE, LLC
Jennifer F. Louis, CPA has over 19 years of experience in designing and presenting high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organizational success. In 2003, she founded Emergent Solutions Group, LLC, a company dedicated to developing and delivering accounting and auditing training services. She was most recently executive vice president/director of training services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including vice president of product development, and a consultant for the firm’s Audit Productivity Improvement Program TM. She also coauthored a manual on value-added auditing. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $275.00
Member Price $225.00