Identify the major components of reporting in not-for profit organizations. Hear about key facts and the impact of current accounting standard updates (ASUs). Determine how to prepare the note disclosures for a not-for-profit entity's financial statements relating to ASU 2016-14 and ASU 2016-18 and in accordance with GAAP. Evaluate going concern and subsequent events resulting from COVID-19. Recognize appropriate accounting for recording and recognizing contributions.
• Presentation of not-for-profit financial statements
focusing on ASU 2016-14 and ASU 2016-18 with example disclosures
• Common
pitfalls and tips to consider on functional expense reporting
• Ways to
manage liquid resources
• Peer review findings relating to implementation of
ASU 2016-14
• Items to consider when preparing for an audit and reviewing
financial statements related to COVID-19 (underwater endowments, liquidity,
going concern, subsequent events etc.)
• Key facts and impacts on current
ASUs
• Cybersecurity
issues
PICPA Member: $79
Nonmember: $104
Course No. 775900
Level: Basic