Webinar

New Financial Reporting Requirements for Nonprofits

  • Wednesday, December 13, 2017

    11:00am – 3:00pm
  • 4
    CREDITS
    Accounting, Auditing

This course will discuss the requirements of FASB Accounting Standards Update (ASU) 2016-14: Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities as well as other recently issued ASUs and how they may affect the accounting and financial reporting of nonprofits.

Objectives

*Identify requirements of ASU 2016-14 affecting the

  • Statement of Financial Position (or equivalent)
  • Statement of Activities (or equivalent)
  • Statement of Cash flows
  • Statement of Functional Expenses
  • Financial statement disclosures

*Identify how recent changes to accounting requirements may affect nonprofits including

  • Revenue recognition
  • Leases
  • Accounts receivable
  • Inventory

Highlights

*Changes to the individual statements such as the Statement of Financial Position, Statement of Activities, Statement of Cash flows

*Changes to financial statement disclosures

*Incorporating other recently issued changes to U.S. generally accepted accounting principles

Additional Information

Designed For

*Personnel of nonprofit organizations responsible for implementing the new financial reporting requirements
*Accountants and auditors who will be reporting on financial statements of nonprofits

Vendor

ACPEN

Advanced Preparation

None

Prerequisite

Experience with nonprofit financial reporting

Field of Study

Accounting, Auditing

Course Number

171407025

Level of Knowledge

Intermediate

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