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. To properly implement the new financial reporting model professionals must have a strong, working knowledge of the new requirements. This course explains the new requirements, illustrates how the requirements manifest themselves in the financial statements and clarifies key options that not-for-profits have in implementing the requirements. The course also examines other key changes affecting not-for-profits including the new revenue recognition and contribution requirements (which apply to 12/31/19 year-ends) and leases (which apply to 12/31/20 year-ends). The course materials utilize a highly illustrative and innovative format, including over 30 focused exercises to provide an enhanced working knowledge of not-for-profit accounting and reporting.
Not-for-profit industry professionals and auditors.
- Obtain a working knowledge of the new not-for-profit financial reporting requirements contained in ASU No. 2016-14
- 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 tomorrow’s changes coming in the areas of revenue recognition and leases
- Changes in the reporting of net assets and how they will play out in the statement of financial position and the statement of activities
- How the reporting of functional and natural expense information is changing
- The new requirements related to providing liquidity information
- Changes to the statement of cash flows
- Core not-for-profit accounting requirements related to contributions, promises to give, contributed services, net assets, special events, the classification of expenses and more
- How the new contribution and revenue recognition requirements affect not-for-profits (e.g., the accounting for grants and contracts)
- How the new lease requirements will affect not-for-profits
Some introductory background in not-for-profit accounting and reporting.
- Qualifies for Yellow Book.
Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.
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Note: Online pre-registration will be closed on Dec 6 at 8:30 AM.
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Registrations will be accepted at the door.
John C. Blanton, CPA
Charlie is the Sr. Director of Government & Nonprofit Content for Surgent Professional Education. He has more than 25 years of experience in auditing and industry having worked at KPMG, the Texas Society of CPAs, Taylor Publishing, Texas Wesleyan University, and the AICPA. Charlie authors Surgent’s government and nonprofit CPE courses, conducts live presentations, and teaches well over 50 webinars annually in the government and nonprofit arena.