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

4.6 (62)

Alexander Buchholz, CGMA

PKF O'Connor Davies, LLP

  • CPA

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Before starting this self study program, please go through the instructional document.

Overview

  • Introduction to the speaker
    1 mins
  • Last overhaul approximately 20 years ago
    10 mins
  • Represents significant change from previous guidance
    23 mins
  • Attempt to reduce the significant differences across the sector that exists with respect to reporting
    43 mins
  • Preparations for Implementation
    52 mins

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?

  • Finance Pros
  • Accountant
  • Others
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • CPA - Large Firm
  • Accounting Firm
  • Young CPA
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Accounting Practice Owners
  • Senior Accountant
  • Accounts Director
  • Accounting Managers
  • Staff of Accounting Firm

Testimonial

4.6

(62)
68%
29%
2%
0%
2%

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.

FM

He taught in a manner so that everyone could understand and the material that was being presented his discussion was well organized. He gave some excellent examples and explained to them as well. In my opinion, this was a great 1-hour course and time well spent.