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The 101 on Not-for-Profit

  • Accountant
  • CGAP
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

There is a key difference between for-profit and non-for-profit standards: it is the concept of fund accounting. The concept of fund accounting focuses on accountability and stewardship rather than profitability. For-profit entities have a general ledger, which is a single self-balancing account — while nonprofits typically have a number of general ledgers or funds.

This accounting framework enables not-for-profit organizations to separate resources into different accounts to identify individual sources of funds and their usage. Further, nonprofit organizations receive many benefits as tax-exempt organizations, they must keep detailed records about contributions, assets, and expenses.

Given this background, it is imperative to understand that Not-for-Profit organizations present a unique set of accounting and governance issues.

This Accounting CPE webinar will focus on the following topics of fundamentals of NFP organizations:

  • Key definitions
  • Financial statements
  • Governance
  • Revenue recognition
  • In-kind contributions
  • Tax considerations

This Online CPE webinar would be of great value if you had already attended Revenue Recognition for NFP Organizations from the speaker.

Learning Objectives

  • To identify fundamental terms and concepts specific to NFP organizations
  • To outline a financial statement presentation
  • To explain key aspects of good governance and tax considerations
  • To identify thoroughly revenue recognition concepts for NFPs

Recommended For

  • This online CPE course is suitable for an independent certified public accountant (CPA) who want to update their knowledge and skills.
  • CPA firms performing engagement in NFP accounting or auditing.
  • Internal Auditors, who are beginning their career in auditing.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Auditors
  • Certified Management Accountant (CMA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • Nonprofit Professionals
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 1.5 CPE Credit of Accounting & Auditing for Certified Public Accountants (CPA-US)
  • 1.5 CPE Credit for Certified Management Accountants (CMA)
  • 1.5 CPE Credit for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 1.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1.5 CE Credit for Certified Wealth Strategist (CWS)
  • 1.5 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • Instructional Method :
    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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Lucas LaChance

Partner, Lane Gorman Trubitt, LLC

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.

About Company

Lane Gorman Trubitt, LLC

www.lgt-cpa.com

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

FAQs content

  • 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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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • 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.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • 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.

Ratings and Review

4.7

826 Ratings

Excellent

568

Very Good

233

Average

22

Poor

3

Terrible

0

KH

Kendra Hairston, CPA (US)

Dec 5th, 2020

Lucas is a very effective presenter. He covers the material extremely well and is very easy to follow and understand. His timing of the presentation was right-on. The comparison of GAAP to tax was presented in an excellent format

MS

Mary Steirer, Accountant, CPA (US)

Oct 6th, 2021

A very thorough review of most of the accounting relevant accounting elements of an NPO.

CW

Carole Williams, CPA (US)

Oct 6th, 2021

This was one of the best webinar I've had on this site. The instructor needs more time. 2 hours please.

TT

Terri Tindall, Accountant

Sep 8th, 2021

The presenter was very knowledgeable. He presented material that was helpful. Perhaps a bit more time should have been allotted to the course.

DC

Don Crisp, CPA (US), CGMA

Sep 4th, 2021

Instructor was a good presenter and answered submitted questions

The 101 on Not-for-Profit

$10

1.5 Credits

Subject Area

Accounting & Auditing

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