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Overview

8.0 Credits
ONLINE

ASU No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is the most significant not-for-profit reporting standard in over 20 years and is now fully effective. Explore the new requirements and how they manifest themselves in the financial statements and clarify key options that not-for-profits have to apply the requirements. Also, examine other fundamental changes affecting not-for-profits, including the new revenue recognition and contribution requirements and leases. The materials utilize a highly illustrative and innovative format.

Objectives

  •     Obtain a working knowledge of the 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

Major Topics

  •     The key requirements, options, and disclosures related to each of the basic financial statements
  •     The reporting of functional and natural expense information
  •     The new requirements related to providing liquidity and availability of financial assets information
  •     ASU No. 2018-08 and its effect on the accounting for grants and contracts as well as contributions in general
  •     How the new lease requirements (FASB ASC 842, Leases) impact not-for-profits
  •     Core not-for-profit accounting requirements related to contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more

Prerequisite

Some introductory background in not-for-profit accounting and reporting

Sessions

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Wednesday, September 22, 2021

General Sessions