Introduction to the speaker1 mins
Last overhaul approximately 20 years ago10 mins
Represents significant change from previous guidance23 mins
Attempt to reduce the significant differences across the sector that exists with respect to reporting43 mins
Preparations for Implementation52 mins
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.
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.
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.