Financial Accounting Standard Board completed the change in the revenue recognition in not-for-profit contribution and grants in the year 2018. This was continued in line with revenue recognition started in the year 2014 with ASU 2014-09 and continued four years later with ASU 2018-08.
This Online CPE webinar for CPAs covered key topics:
Key points of ASU 2014-09
Exchange versus contribution transactions
Detailed understanding of ASU 2018-08 including case studies
Benefits
Refreshed look at ASU 2014-09
In detail understanding of ASU 2018-08
Deeper dive into ASU 2018-08 with numerous case studies and
Practical understanding to apply revenue recognition standards in all types of organization
The speaker, Lucas LaChance, is a Texas Society of CPAs Rising Star Award-winning experienced auditor, director, board member, manager, and publisher with more than 15 years of leadership experience in external audit and internal audit with an emphasis on risk-based (COSO) audit approaches. This is a must webinar for all the CPAs.
Learning Objectives
To identify the components of the 5-step method to revenue recognition
To distinguish between exchange and contribution transactions
To clarify the fundamentals of ASU 2018-08 and its applicability to an organization
To walk through a series of case studies implementing ASU 2018-08
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.
Lucas is a Texas Society of CPAs Rising Star Award-winning experienced auditor, director, board member, manager, and publisher with more than 15 years of leadership experience in external audit and internal audit with an emphasis on risk-based (COSO) audit approaches. His responsibilities include the oversight and management of a department of more than 30 professionals (budget monitoring, analysis metrics, recruiting/retention, coaching, mentoring); partnering with clients with assets in excess of $150MM+ to identify, analyze, and mitigate financial and industry risks to their strategic plan; planning and execution of multiple, large-scale, simultaneous projects; and development and implementation of numerous accounting and finance presentations to external clients, committees, and boards as well as to local, state, and national audiences about accounting industry developments.
For more than 69 years, Lane Gorman Trubitt, LLC (LGT) has served the Southwest region from its location in Uptown Dallas. The firm is comprised of more than 110 team members who have a variety of professional skills and industry specialization; yet, they all share the same passion to support and grow local businesses with tax, assurance and consulting work.
In addition to the professional services they provide, LGT hosts multiple educational events a year to provide an advantage to their local community members by helping them remain aware of the continuous adjustments affecting businesses.
To provide wealth strategies to our valued clients, LGT has two affiliated companies - LGT Financial Advisors LLC and LGT Insurance Services, Inc.
Credentials. LGT is licensed by the Texas State Board of Public Accountancy and is a member of the American Institute of Certified Public Accountants (AICPA).
Quality Assurance. The AICPA Division for CPA Firms sponsors a program of peer (quality) review. This program is designed to give the public confidence in the quality of a firm’s audit and accounting procedures. LGT has participated in this voluntary quality control review program every three years since 1978, and all of our peer review reports have been unqualified.
Philanthropic Efforts. Our team members have made it a point to give back to the community. To that end, we participate in more than 20 not-for-profit organizations from volunteer efforts and charitable donations to Board membership. We actively support a number of other charities and foundations within our community
FAQ
To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).
Testimonial
4.6
(263)
65%
30%
5%
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TB
Thomas Bailey, CPA
Dec 9th 2020
Great information and presentation. Appreciated the information on anticipated fall out of this new requirement (increase in costs of audits, possible loss of small/medium sized CPA firms handling nonprofits, and smaller nonprofits may not be able to afford same accounting services they currently have).
WDGI
William D. Griffith Iii, CPA
Dec 10th, 2020
Lucas, You did an excellent job! The NFP world is getting more and more challenging. And as you know, unless the NFP has some economies of scale, this is going to be a huge challenge for them and rather costly. Disappointing to see another layer of administrative burden being put on our NFP's
VL
Valerie Landa, CPA
Dec 9th, 2020
I appreciated the examples of the financial statements along with other notes and the fact that you can have access to the notes and webinar again on your account at your convenience, Great Presentation by Lucas Lachance on FASB NFP Exposure Draft with proposed changes. Very Educational and Helpful Webinar
DCI
Derek Curtis Ii, , CMA, CPA
Dec 8th, 2020
This was one of the most comprehensive and informative webinars on nonprofit accounting that I've attended. It was a deep dive but didn't feel overwhelming! The presenter was very knowledgable and had wonderful practical details to share. I hope future courses are longer!
AD
Ann Dominick, CPA
Apr 2nd, 2021
Very complicated topic !
PL
Pengfei Lu, CPA
Apr 2nd, 2021
very knowledgeable lecturer, like the case study a lot!
