Yellow Book Boot Camp - NFP and Governmental Accounting & Auditing Update 8 Credits 8 Credits
Learning mode
Accountants irrespective practicing in a specific industry or in public that has a special focus on non-profit as well as government entities have be updated with the changes in the rules. This is specialized course is designed keeping such audience in focus.
If you have taken the first edition of this course, this course will brush up introduction and review of recent occurrences in non-profit and governmental accounting & auditing.
However, if you have not taken the first edition of this course, the course will still be a very valuable addition to your knowledge and CPE credits. Its standalone value is unique for experienced professionals. Further it serves as a follow-up for the professionals who tool a recent course for Yellow Book Boot Camp.
This online webinar will start to build on the foundational understanding in the areas of non-profit and governmental accounting and auditing.
The online CPE webinar for CPAs will cover major topics:
This update webinar covers all four aspects of a Yellow Book Boot Camp:
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:
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 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 course 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 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 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.
| License details | Credits | Status |
|---|---|---|
| Accounting & Auditing (Govt.) for Certified Public Accountants (CPA-US) | 8 CPE | Approved |
| Accounting & Auditing for Certified Internal Auditors (CIA) | 8 CPE | Eligible |
| Certified Management Accountants (CMA) | 8 CPE | Eligible |
| Internal Audit Practitioner (IAP) | 8 CPE | Eligible |
| Certified Wealth Strategist (CWS) | 8 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 8 CE | Eligible |
| Certified Valuation Analyst (CVA) | 8 CPE | Eligible |
| Certified Government Auditing Professional (CGAP) | 8 CPE | Eligible |
| Qualification in Internal Audit Leadership (QIAL) | 8 CPE | Eligible |
| Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 8 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting & Auditing (Govt.) for Certified Public Accountants (CPA-US) | 8 CPE | Approved |
| Accounting & Auditing for Certified Internal Auditors (CIA) | 8 CPE | Eligible |
| Certified Management Accountants (CMA) | 8 CPE | Eligible |
| Internal Audit Practitioner (IAP) | 8 CPE | Eligible |
| Certified Wealth Strategist (CWS) | 8 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 8 CE | Eligible |
| Certified Valuation Analyst (CVA) | 8 CPE | Eligible |
| Certified Government Auditing Professional (CGAP) | 8 CPE | Eligible |
| Qualification in Internal Audit Leadership (QIAL) | 8 CPE | Eligible |
| Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 8 CPE | Eligible |
Credits
8
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC 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.com.
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.
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.
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.
MF
Great instructor on a not so exciting topic.
MP
Very thorough. A lot of material.
Jun 30, 11:00 AM ET
Jun 30, 03:00 PM ET
Jul 01, 11:00 AM ET
Jul 01, 12:00 PM ET
Jul 01, 12:30 PM ET
Jul 01, 12:30 PM ET
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Multiple Credits
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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.
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