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ASU 2016-14: PRESENTATION OF FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT FIRMS

4.6 (143)

Alexander Buchholz, CPA, CGMA, MBA

PKF O'Connor Davies, LLP

Friday, May 15, 2020 | 01:30 PM EDT

  • CPA

1 Credit

$10

Subject Area

Accounting

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Course Description

ASU 2016-14: Presentation of Financial Statements for Not-for-Profit Entities (“ASU”) was released on August 18, 2016, by the Financial Accounting Standards Board (“FASB”) and is effective for fiscal years beginning after December 15, 2017. The issuance of this new ASU represents a fundamental financial statement reporting a change for not-for-profit entities that has not occurred in over 20 years. This webinar attempts to convey the most recent accounting developments that will impact the presentation of the financial statements. Topics to be covered include revised net asset classifications, liquidity, and availability, expense reporting, the investment return and statement of cash flows.

Learning Objectives

  • Discuss implementation of ASU 2016-14
  • Review samples of reporting changes to NFP financial statements required by ASU 2016-14
  • Discuss important points to convey in management and board meetings

Who Should Attend?

  • Accountant
  • Accounting Firm
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Finance Pros
  • Others
  • Young CPA

Testimonial

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(
    [no_of_record] => 143
    [average] => 4.5944
)
 

4.6

(143)
64%
32%
3%
0%
1%

AB

I do not do non-profit work, but I took the webinar for general information since I am an accountant in public practice. I was so impressed by the quality of the presentation. The instructor was so knowledgeable, and prepared! He spoke with authority and in a manner that was easy to follow and very relevant to what he was teaching. The materials were easy to follow and quite instructive.

SG

This is by far the best presentation I've seen/heard. I love handouts because it is simple and easy to understand. I can apply it to the non-profit clients I work with and I can also share the material. Thank you for a great presentation on a pretty dry topic!

TR

Alex was very knowledgeable about the program content & also shared his reporting preferences which were beneficial to hear from someone who has already experienced working on NFP Financial Statements.

JB

I knew the changes for NFP were about to be implemented. Alex's explanations were succinct and easily understandable. Great illustrations. I will be using this information in my role as Board Member for a small local charity.

SC

The presenter boiled the requirements of the ASU down to the essentials and provided great examples for implementation. The webinar and provided slides will definitely help me deal with the new requirements.

JF

Excellent class for accountants working for or auditing NFPs. Good comparisons between old requirements for reporting and new ones without just relying on the pronouncements. Presentor spoke clearly and did not dash through a presentation at any time. Took plenty of participant questions.