The Most Critical Challenges in Not-For-Profit Accounting Today [CNA4]

Full Description

The Most Critical Challenges in Not-for-Profit Accounting Today (CNA4)

September 20th, 2024 / 8:30 am 12:00 pm

Westmark Fairbanks Hotel & Conference Center
813 Noble Street
Fairbanks, AK 99701

Not-for-profit entities have recently applied critical new standards related to contributions of nonfinancial assets, leases, and more. Now is the time to know more than just what the standards say we need to know what they mean and how they will affect not-for-profit entities. This course is designed to do just that! The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced working knowledge of the challenges in not-for-profit accounting.

Major Topics:
- Lessons learned (and lessons remaining) for the implementation of FASB ASC 842, Leases, and the new requirements related to contributions of nonfinancial assets in ASU No. 2020-07
- Solving contribution conundrums (e.g., conditional contributions, restricted contributions, contributed services, etc.)
- Additional issues in not-for-profit financial reporting

Learning Objectives:
- Identify the critical changes occurring in not-for-profit accounting today
- Skillfully implement todays most challenging FASB standards affecting not-for-profits
-More effectively audit not-for-profit entities through superior knowledge of key accounting issues

Designed For: Not-for-profit industry professionals and auditors

CPE Credits: 4, Accounting / Governmental

Level of Knowledge: Update

Prerequisite: Knowledge of not-for-profit accounting

Acronym: CNA4

Discussion Leader: Randy Milligan, CPA