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ASCPA's Annual Update for NFP A&A

Code: NFPAA-MG 8.0 CPE Credits

Overview

This course starts out with a review of FASB Accounting Standard Updates (ASUs) that are impacting NFP entities. It includes a deep dive into Revenue Recognition for Grants & Contracts and its interplay with Topic 606. Attendees will also gain an understanding of what must be considered in order to implement standards impacting nonprofit entities including leases, the definition of collection, goodwill amortization for nonprofits, and gifts in kind. We’ll then switch gears to auditing and discuss the AICPA, Yellow Book and Single Audits standards impacting nonprofit entities. Learning Objectives: • Analyze how nonaudit services impact independence • Identify recently issued changes to the Uniform Guidance • Recall impact of COVID19 on Single Audits and GAGAS engagements • Identify ASUs impacting nonprofit entities • Describe changes to nonprofit financial reporting

Presenter(s):

Melisa Galasso

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