CPAR NFP - Accounting & Financial Reporting

CPAR GOV/NFP - Vol. 2019 - No. 2 - 03 - Not-for-Profit Accounting and Auditing: Recent Guidance

Course Overview
The guidance for governmental and not-for-profit accounting comes primarily from the GASB and the GAO. But it is not only those two major players that we need to monitor if we want to provide reliable financial information to our stakeholders. The major standard setters in the private sector, the FASB and the AICPA, also play a role in influencing government accounting and reporting. Kaplan Financial Education instructor Allen Fetterman covers the AICPA’s Not-for-Profit Entities Audit and Accounting Guide, which covers everything from financial reporting to revenue recognition to grants and contracts. He reviews the recent March 2019 update and its implication for governmental accountants.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Identify how and why the Not-for-Profit Audit and Accounting Guide includes recommendations from the AICPA Financial Reporting Executive Committee (FinREC);
  • Define what a "collaborative arrangement" means in the context of revenue recognition guidance;
  • Distinguish how the American Alliance of Museum's definition of "collection" differs from the FASB codification's definition; and
  • Explain how and why the auditor's responsibilities for "going concern" have shifted in the past few years.

Prerequisites/Advanced Preparation:

Work experience in government accounting or auditing, or an introductory course in government accounting.

Speaker / Author:

CPAR Government/Not-For-Profit
SmartPros Ltd. is a leader in online and offline continuing education for accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.


Price (USD)

Standard: $69.90


Course Code : CPAR1405-FM

Release Date : 08/02/2019
Expire Date : 09/09/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting - Governmental

Returning Subscribers

- OR -