Not-For-Profit GAAP Update Self-Study Webinar

Live Webinar

Self-Study

$149.00

CPE Credits: 6 Hours

Topic: Not-for-Profit & Governmental Accounting & Auditing

Add To Cart

Overview

Objective

Emphasis

Overview

This self-study webinar is designed for accountants and financial statement users who want to remain on the cutting edge of the most recent accounting pronouncements affecting not-for-profits. You’ll be equipped to:
<ul>
<li>
Follow current accounting standards for not-for-profits (ASC 958)</li>
<li>
Understand recent guidance revising NPO financial statements </li>
<li>
Apply accounting standards that impact nonprofits 
 </li>
</ul>

Objective

To provide a deep dive into the most recent accounting pronouncements and issues impacting not-for-profits. This self-study webinar focuses on understanding the accounting standards affecting nonprofits, implementing and using current authoritative literature, and reviewing the latest GAAP issues regarding NPOs.

Detailed Learning Objectives

• Identify mandatory NFP financial statements and titles
• Identify the ramifications of ASU 2016-01 on not-for-profits relative to for-profits
• Recognize the changes in accounting for goodwill impairments by not-for-profits under both ASU 2017-04 and ASU 2019-06
• Recognize the characteristics of governmental entities
• Identify the delayed effective date of the lease accounting standard on private not-for-profits due to COVID-19 concerns
• Identify the accounting for contribution revenue by a not-for-profit
• Recognize the accounting for a conditional transfer of cash made to a not-for-profit
• Recognize factors indicative of risk in recording revenue for an unconditional promise to give
• Recognize the accounting for contributed services to a not-for-profit
• Identify the accounting for donated securities
• Identify the terminology associated with the power to modify restrictions on a charitable fund
• Recognize necessary disclosures when a not-for-profit transfers assets to a recipient organization and specifies itself or an affiliate as a beneficiary
• Identify the accounting treatment of service concession arrangements under ASU 2014-05
• Recognize the accounting treatment for collections of art or similar collections
• Recognize the applicability of ASU 2019-03 on both not-for-profits and for-profits
• Recognize the accounting treatment of joint costs of a not-for-profit
• Identify the ramifications of balance sheet classifications of net assets on a not-for-profit’s balance sheet
• Identify the primary categories of expenses under a not-for-profit’s functional reporting
• Identify the options for reporting the cash flows from operations under ASU 2016-14
• Identify the overall effect of ASU 2016-14 on a not-for-profit’s disclosures

Emphasis

<ul>
<li>
Review of recent not-for-profit accounting standards</li>
<li>
How NPO financial statements and required disclosures changed 
– Use of “operating measures” 
– Liquidity disclosures 
– Reporting functional expenses 
– Statement of cash flows</li>
<li>
Net assets, endowment funds, and UPMIFA</li>
<li>
Distinguish among contributions, exchange transactions, and pass-throughs</li>
<li>
Restrictions and conditions</li>
<li>
Consolidations and goodwill for NPOs 
– New rules for goodwill amortization 
– When and how NPOs consolidate for-profits</li>
<li>
Valuation and disclosure of investments</li>
<li>
Recent FASB guidance affecting NPOs 
– Revenue recognition 
– Leases 
– Fair value 
– FASB Simplification Initiative</li>
<li>
Valuing gifts-in-kind and gifts of non-financial assets</li>
<li>
Allocating joint costs</li>
<li>
Collections update</li>
<li>
Split-interest Agreements 
 </li>
</ul>

Live Webinar

Self-Study

$149.00

CPE Credits: 6 Hours

Topic: Not-for-Profit & Governmental Accounting & Auditing

Add To Cart

Included in pass

Available

Evening weekend pass

Anytime pass

Self study pass

Combo pass

Upgrade to save upto 80% with

Pass Access

Prerequisite

Basic knowledge of accounting for nonprofit organizations

Level of Knowledge

Intermediate

CPE Credit

6 Hours

NASBA Field of Study

Accounting