Description
This CPE course provides an overview and changes with respect to ASU 2016-14 Presentation of Financial Statements and ASU 2016-18 Restricted Cash and Cash Equivalents in Statement of Cash Flows for Not-for-Profit Entities. This course provides common pitfalls and tips on functional expense reporting, and how to manage liquid resources, common peer-review findings related to ASU 2016-14, and tips and suggestions on a successful audit. This course also reviews items to consider, given COVID-19, when preparing for an audit and reviewing financial statements. The instructor will explain the key facts and impacts of ASU 2018-08 Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made, ASU 2019-03—Updating the Definition of Collections, ASU 2019-06—Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangibles to NFP Entities, and ASU 2020-07 Presentation and Disclosures by NFP Entities for Contributed Nonfinancial Assets. Lastly, this course will cover Cybersecurity Issues.
Event Level: Basic
Who Should Attend: CPAs who want to know changes in respect to NFP reporting and presentation
Required Knowledge: None
Advanced Preparation: None
Vendor: CPA Crossings, LLC
Speaker: Burke, Adelina
Objective
* Identify the major components of reporting in not-for profit organizations * Determine how to prepare, in accordance with GAAP, the note disclosures for a not-for-profit entity's (NFP)'s financial statements relating to ASU 2016-14 and ASU 2016-18 * Evaluate going concern and subsequent events resulting from COVID-19 * Recognize appropriate accounting for recording and recognizing contributions * Recognize key facts and impacts of current accounting standard updates
Credit Types
- Auditing: 2
Event Speaker(s)
Registration Fees
| Registration | Type | Price |
|---|---|---|
| Rebroadcast - General (2 hours) | Members | $100.00 |
| Rebroadcast - General (2 hours) | Non Members | $225.00 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.