Before starting this self study progarm, please go through the Instructional Document.
DownloadCourse Details
Overview of Topics
Introduction to the speaker
1 minsLast overhaul approximately 20 years ago
10 minsRepresents significant change from previous guidance
23 minsAttempt to reduce the significant differences across the sector that exists with respect to reporting
43 minsPreparations 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.
Webinar Qualifies for
- 1 CPE credit of Accounting for all CPAs
- 1 General Educational credit for Tax Professionals/Bookkeepers/Accountants
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
About Presenter
Alexander Buchholz is a Partner at PKF O’Connor Davies with over 15 years experience in public accounting, including with a “Big Four” accounting firm.
Alex is responsible for the development of the audit approach, supervision of staff, and the establishment and maintenance of the engagement budget. Additionally, he is responsible for the coordination of staff and management so that the audit is performed on a timely basis with as little intrusion to client operations as possible.
His expertise is in Single Audits, internal control/compliance audits, and specialized cost reporting. His industry experience is in healthcare and not-for-profit entities, including skilled nursing facilities, social service agencies, charter schools, diagnostic and treatment centers, home care service entities, adult homes and other long-term care facilities, special needs entities, and cemeteries.
Alex is also an adjunct professor at Brooklyn College of the City University of New York in the Department of Accounting where he teaches undergraduate and graduate courses in accounting and auditing. He also teaches at the School of Professional Studies of the City University of New York for the Online Business Management Department and at Mercy College and Lehman College.
He conducts internal training seminars for the Firm and frequently speaks at outside organizations and associations. He is also a former member of the Firm’s continuing professional education (CPE) committee, with special emphasis on Single Audit training. Alex has written many articles on accounting and auditing topics for a variety of professional publications.
PKF O'Connor Davies is a new breed of accounting and advisory firm that holds itself to a higher standard – going beyond passive value calculation to active value creation.
With unmatched client focus, we unlock the real value hidden at key connection points of every engagement – from the industry and resource levels to the organization and regulatory levels on the regional, national and international levels.
Through these connections, our team of more than 600 top-notch professionals continually drives efficiencies, uncovers opportunities and manages risk – delivering value where others can’t.
Review Questions
- Question 1 : 00:15
- Question 2 : 00:30
- Question 3 : 00:45
- What are the principal reasons to issue an accounting standard update after a long time in the case of the Non-Profits?
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- In the Statement of Financial Position which one of the following is the minimum presentation requirement?
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- Which one of the following provides key details as to how liquidity and availability of resources need to be disclosed after the implementation of ASU 2016-14?
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- Which one of the following should you include in case you are an independent auditor or a practitioner?
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- Which one of the following represents the key provisions of ASU 2016-14?
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- Which one of the following represents the characteristics of Board Designated Net Assets?
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- What does the revised net asset classification in the ASU 2016-14 suggest?
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- Which one of the following represents how the Not-for-Profits should represent the analysis of expenses?
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FAQ
- myCPE self-study courses are online.
- The self-study format allows you to access the material online 24/7 and study at your own pace.
- As per NASBA guidelines, you have one year from date of registration to complete each program.
- Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
- Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
- These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
- For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
- Please email to help@my-cpe.com in case of any self study program queries.
Reviews
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SGSTUART GREENBERG , CPAOct 17th 2019This 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!
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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
On-Demand Webinars
IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/RegisterBEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/RegisterITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/RegisterExcel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/RegisterBEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/RegisterYELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/RegisterIS IT DEDUCTIBLE: COMMONLY ASKED IRS DEDUCTIONS (UPDATED 2020)
Wednesday, October 28, 2020 View Details/RegisterYELLOW BOOK BOOT CAMP – INTRODUCTION TO NFP AND GOVERNMENTAL ACCOUNTING & AUDITING
Monday, October 26, 2020 View Details/RegisterCPA & ACCOUNTANTS: WHAT YOU SHOULD KNOW ABOUT CREDIT CARD SURCHARGING & IT'S LEGALITY
Thursday, October 22, 2020 View Details/Register
- Cost $10
- CPE Credits 1
- Subject Area Accounting
- Course Level Basic
- Instructional Method QAS Self Study
- Prerequisites None
- Advanced Preparation None
- Published Date November 04 ,2019
- 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
- Handout Material Download
- Key Terms Download
On-Demand Webinars
IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/RegisterBEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/RegisterITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/RegisterExcel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/RegisterBEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/RegisterYELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/RegisterIS IT DEDUCTIBLE: COMMONLY ASKED IRS DEDUCTIONS (UPDATED 2020)
Wednesday, October 28, 2020 View Details/RegisterYELLOW BOOK BOOT CAMP – INTRODUCTION TO NFP AND GOVERNMENTAL ACCOUNTING & AUDITING
Monday, October 26, 2020 View Details/RegisterCPA & ACCOUNTANTS: WHAT YOU SHOULD KNOW ABOUT CREDIT CARD SURCHARGING & IT'S LEGALITY
Thursday, October 22, 2020 View Details/RegisterPay Invoice
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