2024 Not-for-Profit Accounting Update

Overview

The Not-for-Profit Advisory Committee (NAC) has been meeting with FASB to discuss the impact of various standards on the nonprofit community. In this course, we will explore the work of the NAC and the impact they've had. We then transition to the Accounting Standards Updates (ASUs) issued by the FASB that are impacting nonprofit entities, including a review of year 2 issues with respect to the leases standard including modification accounting. We will close with a look at common deficiencies found in nonprofit financials.

Highlights

• NAC
• CECL
• Leases

Prerequisites

Prior experience with nonprofit GAAP

Designed For

Accounting professionals

Objectives

• Recall the impact of ASUs on nonprofit organizations 
• Recall the activities of the nonprofit advisory committee 
• Identify the financial reporting impact of modification of lease contracts
• Identify common deficiencies in nonprofit accounting

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.