Nonprofit Accounting and Financial Reporting Explained WEBCAST
Overview
This course provides a high-level overview of the most important issues facing nonprofit entities and their auditors. The focus of this course is on explaining the theory behind major issues and trends, enabling professionals to understand the most important aspects of relevant professional and regulatory standards related to reliable financial reporting for nonprofit entities.
Highlights
Discussion of financial reporting risks increased by the current economic environment, including increased uncertainty related to critical financial statement amounts and significant disclosures. Executive summary of recent Accounting Standards Updates. Overview of fair value disclosure requirements and implementation issues. Discussion of issues related to donor-restricted endowment funds. Classification of net assets and reclassifications. Endowments, including accounting, disclosures and UPMIFA. Contributions received and receivable. Expense recognition issues. Reporting expenses by function and nature. Other relevant matters unique to the nonprofit environment.
Prerequisites
None.
Designed For
Anyone responsible for preparing or attesting upon nonprofit financial statements.
Objectives
Identify the reasons for unique accounting and financial reporting considerations for nonprofit entities. List the key provisions of ASC 958 related to financial statement considerations for nonprofit entities. Describe special considerations for nonprofits, such as revenue recognition for nonexchange transactions, gifts in kind, and more.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $300.00
Member Price $250.00