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Revenue Recognition Considerations for Not-for-Profit Entities 1 Credit

Revenue Recognition Considerations for Not-for-Profit Entities 1 Credit

Learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Answer the polling questions
  • Get your certificate

Sep 21, 2020 | 10:00 AM ET

Learning Objective

  • To review of recent accounting standards update ASU 2014-09 and 2018-08; and guides for not-for-profits
  • To recognize and implement ASU 2014-09.
  • To identify scenarios and implementation ASU 2018-08.
  • To share important points related to ASU 2014-09 and ASU 2018-08 to management
  • To share important points related to ASU 2014-09 and ASU 2018-08 to audit committees

Course Overview

The new revenue recognition standards will affect not-for-profit financial reporting significantly. During this webinar, you will learn how to apply two new standards: 

  • FASB ASU 2014-09 Revenue from Contracts with Customers (Topic 606) and 
  • FASB ASU 2018-08 Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made (Topic 958). 

Learned industry experts will walk you through the new standards in this webinar. With detailed examples, you will learn when transactions are reciprocal and nonreciprocal under the new guidance. Lastly, the webinar will explain how the standards will affect recognition of amounts received under transactions that are frequently encountered in NFPs.

Key topics covered:

  • The accounting standards affecting non-profits
  • Implementing and using current authoritative literature
  • The latest issues regarding NPO mergers and NPO goodwill treatments
  • Tax changes and other current issues impacting nonprofits

This webinar is designed for accountants who want to remain on the cutting edge of the most recent accounting, tax and federal developments affecting not-for-profits.

  • 1 CPE Credit for Certified Public Accountants (CPA-US)
  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit for Certified Internal Auditors (CIA)
  • 1 CPE Credit for Certified Fraud Examiner (CFE)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPE Credit for Internal Audit Practitioner (IAP)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CE Credit for Certified Fiduciary and Investment Risk Specialist (CFIRS)
  • 1 CPE Credit for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

Additional Information

Credits

1

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.

About Instructor

Alexander Buchholz is a Partner at PKF O’Connor Davies with over 15 years experience in public accounting, including with a “Big Four” accounting firm.

Alex is responsible for the development of the audit approach, supervision of staff, and the establishment and maintenance of the engagement budget. Additionally, he is responsible for the coordination of staff and management so that the audit is performed on a timely basis with as little intrusion to client operations as possible.

His expertise is in Single Audits, internal control/compliance audits, and specialized cost reporting. His industry experience is in healthcare and not-for-profit entities, including skilled nursing facilities, social service agencies, charter schools, diagnostic and treatment centers, home care service entities, adult homes and other long-term care facilities, special needs entities, and cemeteries.

Alex is also an adjunct professor at Brooklyn College of the City University of New York in the Department of Accounting where he teaches undergraduate and graduate courses in accounting and auditing. He also teaches at the School of Professional Studies of the City University of New York for the Online Business Management Department and at Mercy College and Lehman College.

He conducts internal training seminars for the Firm and frequently speaks at outside organizations and associations. He is also a former member of the Firm’s continuing professional education (CPE) committee, with special emphasis on Single Audit training. Alex has written many articles on accounting and auditing topics for a variety of professional publications.

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.

Ratings and Review

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BA

Bradley Ambani, CPA (US)

Lecturer was very clear. I feel sometimes CPE courses get way too deep in the weeds but the instructor was concise, hit on the key points and I left feeling I learned something.

JM

John Mountcastle, CFO/Controller

While quick-paced, being able to follow along with powerpoint pdf allowed me to go back to review recondite facts

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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