Yellow Book Boot Camp - NFP and Governmental Accounting & Auditing Update

  • Accountant
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Accountants irrespective of practicing in a specific industry or in public that has a special focus on non-profit as well as government entities have to be updated with the changes in the rules. This is a specialized online continuing education course designed to keep such an audience in focus.

This online CPE course will brush up introduction and review of recent occurrences in non-profit and governmental accounting & auditing

The standalone value of this online CPE course is unique for experienced professionals.

This online webinar will start to build on the foundational understanding in the areas of non-profit and governmental accounting and auditing.

This online CPE webinar covers the following key topics:

  • Key accounting standards impacting non-profits and governments now and in near future;
  • Review the changes happening for governmental audits


This yellow book update webinar covers all four aspects of a Yellow Book Boot Camp:

  • Government GAAP Update
  • Not for Profit GAAP Update
  • Yellow Book Update
  • Uniform Guidance Update


Additional information on these components are as follows:

1. Government GAAP Update: 

GASB has been issuing standards impacting state and local governments. This course will focus on:

  • GASB 95 and its impact on effective dates 
  • GASB 84 - Fiduciary Activities
  • GASB 87 - Leases.


It will close with a review of GASB’s Technical Bulletin, Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of 2020 and Coronavirus Diseases, as well as GASB’s Toolbox for entities to consider the impact of COVID on financial reporting.

2. Not for Profit GAAP Update: 

This continuing education course takes a deep dive into revenue recognition for nonprofit entities. Attendees will be engaged through case studies to determine whether a transaction is a contribution or exchange transaction as well as whether a stipulation is a condition that impacts recognition. The course will also cover some additional guidance FASB has provided on cost-sharing as well as whether a requirement to follow a budget represents a condition. We then switch gears and look to standards directly impacting nonprofits including collections, gifts in kind, and goodwill. The online course by speaker Melisa Galasso, CPA closes with a look at how nonprofits will account for PPP loans and how they can leverage ASU 2018-08 for accounting and financial reporting.

3. Yellow Book Update: 

The 2018 Yellow Book went into effect in June 2020 for audits, reviews, and attestation engagements. This online CPE course will focus on the key changes ranging from independence, quality control, and peer review, waste and abuse, and Yellow Book CPE requirements. This will cover the major changes from the 2011 version and how these changes will impact current year audits. We close with some considerations issued by GAO on how COVID19 will impact Yellow Book audits including impacts on risk assessment, evidence, and quality control.

4. Uniform Guidance Update: 

This online continuing education course will keep you informed about what’s going on in Uniform Guidance including the new compliance supplement, the 2020 update to the Uniform Guidance, the GREAT Act, and how COVID19 is impacting Single Audits. We also cover internal controls over compliance. Based on an AICPA Enhancing Audit Quality study, 23% of all single audits subject to enhanced oversight were materially non-conforming with professional standards due to failure to properly test controls over compliance. This course will help firms understand how to better document testing of controls to reduce deficiency rates while keeping attendees up to date with the information they need to perform Single Audits in these changing times.

Learning Objectives

  • To explore not-for-profit accounting updates for revenue recognition
  • To recognize not-for-profit accounting updates Non-profit ASUs
  • To identify not-for-profit accounting updates NFP proposals
  • To recall not-for-profit accounting updates with COVID-19 impact
  • To explore Governmental Accounting key updates: GASB 95, 84, 87, 89, and 90

Recommended For

The Yellow Book 8 CPE course is recommended for CPAs, CIAs, CGAPs, Internal as well as External Auditors to upgrade their knowledge about governmental accounting and auditing. 

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • Nonprofit Professionals
  • VP Accounts
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 8 CPE Credit for Internal Audit Practitioner (IAP)
  • 8 CPE Credit for Certified Valuation Analyst (CVA)
  • 8 CPE Credit of Accounting & Auditing (Govt.) for Certified Public Accountants (CPA-US)
  • 8 CPE Credit for Certified Management Accountants (CMA)
  • 8 CPE Credit for Certified Internal Auditors (CIA)
  • 8 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 8 CPE Credit of Accounting & Auditing (Govt.) for Certified Government Financial Manager (CGFM)
  • 8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • 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

Melisa Galasso, CPA (US)

Owner, Galasso Learning Solutions

Melisa Galasso, CPA, is the founder of Galasso Learning Solutions LLC. With over 15 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not for profit and governmental accounting. She also supports essential professional development, public speaking, and business skills. Melisa closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

Melisa earned the Association for Talent Development (ATD) Master Trainer™ designation. She is a member of and frequent instructor for the American Institute of Certified Public Accountants (AICPA), the North Carolina Association of Certified Public Accountants (NCACPA), and the Virginia Society of Certified Public Accountants (VSCPA).

Melisa was appointed in 2016 to the AICPA’s Technical Issues Committee (TIC), which is responsible for monitoring the activities of the various accounting and attestation standard-setting boards and submitting comments and recommendations during the due process phase. Melisa is also currently serving on the Board of Directors for the VSCPA. Previously, she served as President of the Board of NCACPA’s Charlotte Chapter, Chair of the A&A Committee for the NCACPA, and held several leadership positions with the VSCPA.

Melisa received the 2013 Women to Watch – Emerging Leader Award from the NCACPA and AICPA. She is a graduate of the 2014 class of the AICPA’s Leadership Academy. In 2016, Melisa was honored as one of the 50 Most Influential Women by the Mecklenburg Times and received the Top 5 Under 35 Award from the VSCPA. She received a 5.0 Speaker award from the NCACPA in 2015, 2016 and 2017. In 2016, Melisa received the Don Farmer Award from the NCACPA for the highest combined average scores on knowledge, skills, and materials from participant evaluations for all courses taught in a technical area. Melisa is a 2017 and 2018 recipient of the AICPA’s Outstanding Discussion Leader award which is given to the top 10% of all AICPA facilitators around the country.

Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia. She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.

About Company

Galasso Learning Solutions

galassolearningsolutions.com/

Continuing education for CPAs should be impactful, relevant, and engaging, so using our proven Galasso Learning Solutions (GLS) process, I am committed to providing Continuing Professional Education (CPE) to firms and entities that fulfill real educational requirements for growth and excellence — not just for the sake of compliance.

As Founder and CEO of GLS, I design and facilitate courses in advanced technical accounting and auditing topics. Since GLS values a commitment to excellence in CPE, I closely monitor regulatory bodies for changes in auditing and accounting guidance and serve as a subject matter expert in implementing the updated guidance.

I’m driven by clients who are motivated to invest in high-quality custom training for their members. As my training practice continues to grow through in-person instruction, live webinars, and on-demand replays, so grows my commitment to the core values that set apart GLS in the first place.

GLS has set out to be a positive force in the accounting profession by empowering other CPAs with quality continuing education and through servant leadership in support of an ever-changing profession.

"Melisa is one of the most knowledgeable trainers we have ever brought in to our firm to present. Her technical knowledge is obvious and her being plugged in to FASB, GASB, AICPA and all the pertinent organizations that affect our profession make her stand above the rest. We very much look forward to her next visit.” - Annie M. Yoder, CPA/CFF, CFE | Principal | Rea & Associates, Inc.

HIGHLIGHTS: Association for Talent Development (ATD) Master Trainer™| Certified Professional in Learning & Performance (CPLP) | AICPA Technical Issues Committee member | VSCPA Board Member | CPA Practice Advisor “40 under 40” 2017, 2018 & 2019 | Charlotte NAWBO 2019 Rising Star

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.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • 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

4.4

28 Ratings

Excellent

15

Very Good

9

Average

4

Poor

0

Terrible

0

MF

Maurice Falcon, CPA (US)

Oct 26th, 2021

Great instructor on a not so exciting topic.

EP

Evan Proulx, CPA (US)

Jul 12th, 2021

Great webinar

CF

Charles Frazzin, Others

Apr 17th, 2021

good

RC

Renee Cross, CPA (US)

Mar 4th, 2022

the presentation was old. References were to 2019 and 2020. THis seminar should have been updated to new OMB issued and remove the old one. She blasted through sections I needed the most assistance with - rev recognition and Single Audit and was slow with GASB updates (which has nothing to do with my job). Presenter was easy to understand

KR

Kristi Romolo, CPA (US)

Nov 20th, 2020

Good materials , good presenter, but way too long.. or maybe that was just me being a spoiled rotten brat..

Yellow Book Boot Camp - NFP and Governmental Accounting & Auditing Update

EXCLUSIVE

8 Credits

Subject Area

Accounting & Auditing (Govt.)

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