Accounting and Auditing Update for Not-for-Profits WEBCAST
Overview
The most effective path to success lies in making yourself indispensable to your clients. Achieving that indispensability requires a robust understanding of your client’s business. You’ll explore the latest developments affecting not-for-profits including FASB requirements, 0MB, and Yellow Book developments. Moreover, you’ll thoroughly review updates to ethics, governmental auditing standards, and accounting for not-for-profit. By participating in this course, you’ll ensure you are well-versed in current standards and best practices in not-for-profit accounting and auditing.
Highlights
Not-for-profit accounting update. Revenue recognition in not-for-profits. FASB update. Auditor’s report and conforming changes. Auditing Standards Board update. SQMS No. 1. A Firm’s System of Quality Management. Governmental auditing update.
Prerequisites
Knowledge of not-for-profit accounting and auditing.
Designed For
Accounting and finance personnel responsible for accounting and financial reporting for not-for-profits and auditors of those entities.
Objectives
Identify how FASB’s accounting updates affect not-for-profit financial statements. Apply FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to an example financial instrument. Identify the requirements of recently issued Statements on Auditing Standard (SASs). Identify the requirements of SQMS No. 1, A Firm’s System of Quality Management. Identify changes to the AICPA Code of Professional Conduct that affect governments and NFPs. Identify changes made in the Government Auditing Standards 2024 Revision. Recognize changes to the Uniform Guidance.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Richard Reisig, Shareholder, Anderson ZurMuehlen & CO PC
Richard Reisig, CPA, presently serves on the Financial Accounting Foundation’s Private Company Council, the AICPA’s Auditing Standards Board, the AICPA’s Practice Analysis Sponsor Advisory Group, and has served on the AICPA’s Board of Examiners. He has over 35 years of public accounting experience and serves his firm, Anderson ZurMuehlen & Company, as shareholder and Business Unit Advisor for Attest Services, working out of the Great Falls, Montana office. He is a Past President of the Montana Society of CPA’s, and a former member of the AICPA’s Governing Council. He was the 2014 recipient of the MSCPA’s George Anderson Distinguished Service Award, MSCPA’s highest honor. Reisig also serves as a Director-at-Large for the National Association of State Boards of Accountancy (NASBA) and was a former Mountain Regional Director. He is chair of NASBA’s CBT Administration Committee and a past member of NASBA’s Relations with Member Boards Committee , Compliance Assurance Committee and CPA Licensing and Examinations Committee. Reisig was a member of the Montana Board of Public Accountants for over 9 years and served two terms as Board Chair. He has a bachelor’s degree in Business, Accounting Option, from Montana State University, and has served on MSU’s College of Business Advisory Council and its Accounting Advisory Council, the board of directors for the MSU Alumni Association and MSU Foundation.
Non-Member Price $320.00
Member Price $270.00