Gain a better understanding of the standards and stay updated and informed on what needs to be implemented.
It's been over 20 years since the FASB did a complete re-evaluation of the financial reporting model used by nonprofit organizations. ASU 2016-14 Presentation of Financial Statements of Not-for-Profit Entities is a result of that process and will bring some important new changes to the financial statements of nonprofits. At the same time, new FASB requirements for revenue recognition, including specific guidance for nonprofits' contribution and grant income and leases, will also have significant impacts. Preparers, auditors, and readers of nonprofit organization financial statements need to keep abreast of these changes, and this content is designed to provide you with practical information related to all these changes.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of the Project to Revise the Nonprofit Reporting Model That Resulted in the Issuance of ASU 2016-14 Presentation of Financial Statements of Not-For-Profit Entities
Net Asset Classifications Under the New Model
Information About Assessing Liquidity and Availability of Financial Resources
Reporting External and Direct Internal Investment Expenses
Reporting Expenses by Function and Natural Classification
Disclosures About Cost Allocations
Impact of Revenue Recognition Standards on Not-For-Profit Organizations
Clarifying the Scope of the Revenue Recognition Standards on Contributions and Grants (ASU 2018-08)
Preparing for the New Lease Accounting Standards
FASB Nonprofit Projects on the Horizon
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 18, 2023.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Warren Ruppel, CPA
Marks Paneth LLP
- Managing director with CBIZ Marks Paneth, part of a Top Ten accounting firm
- Author of CCH’s Knowledge-Based Audits of Not-for-Profit Organizations; Wiley’s Not-for-Profit Accounting Made Easy; and Not-for-Profit Audit Committee Best Practices
- Former assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting
- Served numerous public sector not-for-profit and government audit clients earlier in his career with KPMG and Deloitte & Touche
- Former board member and chair of the audit committee of the New York State Society of CPAs
- Appears quarterly as the government specialist on the CPA report distributed by SmartPros
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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