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Accounting & Auditing Update for Nonprofits 1.5 Credits

Oct 23, 2024, 10:00 AM ET

Accounting & Auditing Update for Nonprofits 1.5 Credits

  • Rating

    4.6
  • Reviewed on

    March, 2024
  • Subject Area

    Accounting & Auditing

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Oct 23, 2024, 10:00 AM ET

Learning Objective

  • To explain the new SAS requirements.
  • To discuss the new standards applicable to leases.
  • To analyze the applicability of CECL to nonprofit entities.
  • To identify the new in-kind donation disclosure requirements.

Course Overview

The latest developments you need to know.

Learn the latest accounting and auditing developments affecting not-for-profits, so you can prepare financial statements with confidence.

The 2023 nonprofit accounting and auditing update provides an overview of all the upcoming changes to financial reporting. This includes reviewing the new lease guidance under ASC 842, accounting for credit losses, changes to disclosure for contributed non-financial assets as well as other topics relevant to nonprofits.

This CPE Accounting & Auditing webinar discusses key issues that relate to current Accounting Standard Updates (ASUs) specific to the nonprofit industry. You'll learn the latest regulatory updates and recently issued Statements on Auditing Standards (SASs) impacting the nonprofit sector. We also review upcoming changes to auditing standards effective for 2022 and 2023 year ends.

Major topics included: 

  • SAS No. 142, 143, 144, 145
  • ASU 2020-07 - Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets

Join FORVIS Nonprofit Audit Partners for this annual Accounting and Auditing Update for Nonprofit entitles.

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting & Auditing for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 1.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Accounting & Auditing for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Accounting & Auditing for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Eligible
Accounting & Auditing for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 1.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1.5 CPE Eligible
Accounting for CIPM 1.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible
License details Credits Status
Accounting & Auditing for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 1.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Accounting & Auditing for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Accounting & Auditing for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Eligible
Accounting & Auditing for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 1.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1.5 CPE Eligible
Accounting for CIPM 1.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible
License details Credits Status
Accounting & Auditing for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 1.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Accounting & Auditing for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Accounting & Auditing for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Eligible
Accounting & Auditing for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 1.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1.5 CPE Eligible
Accounting for CIPM 1.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible
License details Credits Status
Accounting & Auditing for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 1.5 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Accounting & Auditing for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 1.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 1.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Accounting & Auditing for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Eligible
Accounting & Auditing for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 1.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 1.5 CPE Eligible
Accounting for CIPM 1.5 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible

Additional Information

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Explore CPA CPE Courses with MY-CPE. Our online offerings make it easy for you to fulfill your CPA CPE requirements. With a broad selection of topics taught by experienced professionals, you can enjoy flexible scheduling and self-paced learning. Say goodbye to traditional methods and begin your path to professional growth with us today!

About Instructor

Neely D. Duncan
Neely D. Duncan

Partner, Forvis

  • 4.5
  • rating
  • rating
  • rating
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A member of FORVIS National Nonprofit Advisory Services Practice and Center of Excellence. Neely has more than 20 years of audit and advisory experience in public accounting. Her expertise includes financial statement audits, Single Audits, grants management, assessments and compliance, outsourced accounting functions, standards implementation, internal audit procedures, strategic planning, and tax-exempt matters for a  wide range of nonprofit entities. Neely also performs forensic work related to various cases for technical matters for nonprofits.

In addition to handling the accounting, consulting, and audit needs of her clients, she advises clients on operational efficiencies, internal controls, and governance issues and routinely shares best practices with clients gained from working with a variety of organizations. She is a highly sought national speaker on technical matters in the accounting community. Neely also served in the United States Navy for four years. 

Neely is a member of the American Institute of CPAs, Texas Society of Certified Public Accountants, where she serves as a board member, TXCPA -Dallas, where she serves as a board member and the Association of  Certified Fraud Examiners, Inc. She holds the Certified Fraud Examiner (CFE) designation. 

She has been involved with many other professional associations, including Dallas Social Venture Partners,  Finance Chair, Arthritis Foundation, Dallas Heroes Project, and Great Girls Network. Neely is a 2000 magna cum laude graduate of Old Dominion University, Norfolk, Virginia, with a bachelor’s degree in accounting.

Sara Grenier
Sara Grenier

Partner, Forvis

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A member of the Nonprofit Practice and the Healthcare Practice, Sara provides an array of audit services to nonprofit and governmental organizations, colleges, universities, charitable organizations, and healthcare providers. She has approximately 15 years of accounting experience, all with this firm. In addition, she is experienced with Single Audit requirements, including the U.S. Department of Housing and Urban Development,  U.S. Department of Education, and U.S. Department of Health and Human Services programs.


She has served as an instructor for internal training, is a reviewer for FORVIS’ interoffice inspection program, and has participated in peer reviews of other CPA firms.

Sara is a member of the American Institute of CPAs (AICPA) and the Texas Society of Certified Public  Accountants. She holds the AICPA’s Advanced Single Audit Certificate. This certificate requires the ability to evaluate and analyze the core concepts related to client acceptance, engagement planning, engagement analysis, concluding an engagement, and the guiding principles for Single Audits at an advanced level as outlined in the AICPA Competency Framework: Governmental Auditing.


She serves as chair of the board of directors of Child Care Associates in Fort Worth, Texas. Sara is a 2004 magna cum laude graduate of Missouri State University, Springfield, with a B.S. degree in accounting, and a 2005 graduate with an M.Acc. degree.


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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PS

Paul Saltzman, CPA (US)
5

The instructors seem to select the most appropriate material for the organizations to focus on with some new pronouncements and the new lease standards. They did spend more time on subjects like the lease standards and the in-kind donations, which seems appropriate.

XZ

Xiaodong Zhou, CPA (US)
5

Very good training! Learned something new! You can always trust myCPE brings you the most updated information, regulation, technical updates, and so on. I'll definitely introduce this platform to my coworkers who need CPE trainings.

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