Liquidity & Uncertainty Disclosures for Nonprofits 2 Credits
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Nonprofits are required to include a liquidity disclosure in their financial statements. This liquidity disclosure overviews qualitative and quantitative information about how the nonprofit manages its liquid resources.
In this CPE Course, we will delve into the intricacies of liquidity disclosures and ongoing concern assessments for not-for-profit organizations. We will explore how management's responsibility lies at the core of these evaluations, emphasizing the importance of accurate accounting and financial reporting.
From identifying potential risk indicators to evaluating management's plans for mitigating substantial doubt, we've navigated through the steps necessary for a comprehensive assessment. By examining various scenarios, including challenging plans and subsequent events, we will gain insights into the complexities of ensuring transparency and reliability in financial reporting.
Lastly, we will touch upon impairment testing for long-lived and intangible assets, including goodwill. Understanding the order of impairment testing and the significance of these assessments enhances our ability to provide accurate and insightful financial reporting.Â
Join this CPE Course, by staying informed and diligent in our evaluations, we can contribute to maintaining the financial health and sustainability of not-for-profit organizations.
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Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.
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