Addressing Contribution VS. Exchange7 mins
Recognition & Measurement of transactions48 mins
Nonprofit ASUs65 mins
GASB 84 - Fiduciary Activities110 mins
Subsequent Measurement of the Lease Asset Costs167 mins
2018 Yellow Book Overview202 mins
Weaknesses in internal control that results in Waste & Abuse242 mins
COVID19 Impacts for Yellow Book279 mins
Professional Skepticism in remote audits338 mins
Compliance Supplement369 mins
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 webinar will start to build on the foundational understanding in the areas of non-profit and governmental accounting and auditing. The webinar will address:
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.
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.
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
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.