We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We then move to the NFP side of the house with a look at the Accounting Standard Updates issued by the FASB that impacts nonprofit entities.
DESIGNED FOR
Practitioners and members in industry responsible for accounting & financial reporting for nonprofit or governmental entities.
BENEFITS
After attending this presentation, you will be able to...
- Recall changes to nonprofit and governmental accounting standards.
- Identify key issues in governmental auditing.
HIGHLIGHTS
The major topics that will be covered in this course include:
- New GASB standards
- GASB 100, Accounting Changes and Error Corrections
- GASB 101, Compensated Absences.
- Accounting Standard Updates issued by the FASB
- Not-for-Profit Advisory Committee (NAC) and the projects they advise the FASB on.
- Yellow Book and Single Audit engagements.
- Changes in the 2024 Compliance Supplement
- Changes to the Uniform Guidance
- Common deficiencies identified by the federal agencies and peer reviewers.
PREREQUISITES
Prior experience with GAGAS, Uniform Guidance and governmental and nonprofit accounting
ADVANCE PREPARATION
None