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Thursday, June 27, 2024 Live Webcast

Preparing Not-for-Profit Financial Statements (E2406143)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

webcast

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8 CPE Credits in AA

OVERVIEW

In order to prepare accurate and effective not-for-profit financial statements, professionals must have a strong working knowledge of the reporting requirements. Now is the time to obtain that knowledge! This course explains the requirements, illustrates how the requirements manifest in the financial statements, and clarifies options available to not-for-profits in applying the requirements. The course covers key accounting areas that affect not-for-profits, including revenue recognition, contributions, and leases. 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.

DESIGNED FOR

Not-for-profit industry professionals and auditors

BENEFITS

  • Obtain a working knowledge of the not-for-profit financial reporting requirements
  • 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

HIGHLIGHTS

  • Key requirements, options, and disclosures related to each of the basic financial statements
  • Functional and natural expense information reporting
  • Requirements related to reporting liquidity and availability of financial assets
  • Core not-for-profit accounting requirements related to contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more
  • The impact of FASB ASC 842, Leases, on not-for-profits

COURSE LEVEL

Intermediate

PREREQUISITES

Some introductory background in not-for-profit accounting and reporting

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for Yellow Book.

INSTRUCTOR

Diane Edelstein

Diane Edelstein, CPA

AICPA/Professional Development Institute

Diane E. Edelstein, CPA Pittsburgh, PA

Diane E. Edelstein is a Senior Partner at Maher Duessel in Pittsburgh and has over 30 years of experience in public accounting. Her entire auditing career has focused on nonprofits, governments, and Single Audits. She now works part time and specializes in teaching and consulting. Diane was a member of the AICPA NPO Planning Conference Committee from 2012 to 2017 and spoke each year on Single Audit topics. She is also a past member of the AICPA Governmental Audit Quality Center Executive Committee. She has conducted peer reviews of Single Audits and is a prior member of the PICPA Professional Ethics Committee. Diane received a B.A. in accounting (with distinction) from George Mason University in Fairfax, Virginia.