Discuss the new requirements, how they manifest themselves in the financial statements and key options that not-for-profits have in applying the requirements. Also, examine other fundamental changes affecting not-for-profits relating to revenue recognition, contributions (ASU No. 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made) and leases. Materials utilize a highly illustrative and innovative format, including over 30 focused exercises providing an enhanced working knowledge of not-for-profit accounting and reporting.
- Obtain a working knowledge of the new not-for-profit requirements contained in ASU No. 2016-14 and ASU No. 2018-08
- Skillfully prepare a not-for-profit’s financial statements through superior knowledge of accounting and reporting requirements
- Effectively apply today’s core not-for-profit accounting requirements while also preparing for changes coming in the area of leases
Some introductory background in not-for-profit accounting and reporting