The Most Critical Challenges in Not-for-Profit Accounting Today

Overview

Not-for-profit entities have recently applied critical new standards related to contributions of nonfinancial assets, leases, and more. Now is the time to know more than just what the standards say - we need to know what they mean and how they will affect not-for-profit entities. This course is designed to do just that! The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced working knowledge of the challenges in not-for-profit accounting.

Highlights

• Lessons learned (and lessons remaining) from the implementation of FASB ASC 842, Leases, and ASU No. 2020-07 related to contributions of nonfinancial assets
• Solving contribution conundrums (e.g., conditional contributions, restricted contributions, contributed services, and etc.)
• Additional issues in not-for-profit financial reporting

Prerequisites

Knowledge of not-for-profit accounting

Designed For

Not-for-profit industry professionals and auditors

Objectives

• Identify the critical changes occurring in not-for-profit accounting today
• Skillfully implement today's most challenging FASB standards affecting not-for-profits
• More effectively audit not-for-profit entities through superior knowledge of key accounting issues

Notice

All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website.