Nonprofit Accounting and Financial Reporting Explained
Monday, February 17, 2025
Webcast or Webinar, Online
10:00AM - 6:00 PM (opens at 9:30 AM) EST
8Credits
Accounting and Auditing
Registration is Open
Members
$225.00 Regular Price
Non-Members
$275.00 Regular Price
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$160.00 Members / $224.00 Non-Members
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Course Type: Webcast
Course Code: 24/AC166974
Level: Basic
Vendor: ACPEN
Field of Study: Accounting
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.
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.
Major Topics:
- 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
- Noncascontributions
- Contributions received and receivable
- Expense recognition issues
- Reporting expenses by function and nature
- Other relevant matters unique to the nonprofit environment
Major Topics:
- 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
- Noncascontributions
- Contributions received and receivable
- Expense recognition issues
- Reporting expenses by function and nature
- Other relevant matters unique to the nonprofit environment