CPAR Accounting & Financial Reporting

CPAR - 2021/Sept, Seg 5 - Revenue Recognition, Leases and Other Accounting Updates for NFPs

The regulators have been busy providing guidance and not-for-profit accountants have been even busier preparing for the slew of new standards coming out. Kaplan Financial Education discussion leader Allen Fetterman provides an update on where things stand with revenue recognition, leases, CECL, goodwill and intangible assets, gifts in kind, accounting for pandemic-related issues, and other topics impacting not-for-profit organizations.

Learning Objectives:

  • Identify the issues nonprofit accountants need to be aware of when dealing with revenue recognition, leases and CECL;
  • Recognize the options available to nonprofit accountants when it comes to goodwill and intangible assets;
  • Describe the disclosure requirements stipulated in ASU 2020-07 Not-for-Profit Entities; and
  • Recognize the implications of recently issued guidance for nonprofit accountants related to pandemic issues.

Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.

Speaker / Author:

Allen L. Fetterman, licensed as a CPA in New York, has been a discussion leader for Kaplan Financial Education, powered by Loscalzo Institute, for 16 years. He lectures extensively throughout the country on not-for-profit accounting, auditing, single audits, tax-exempt issues, and governance. He has received the AICPA’s Outstanding Discussion Leader Award and has written articles published in national accounting periodicals on accounting and taxes for not-for-profit organizations.

Allen is a member of the AICPA and the NYS Society of CPAs, and also served as Vice President of the latter. He has served on the AICPA’s Not-for-Profit Organizations Committee, Not-for-Profit Audit and Accounting Guide Task Force, and Joint Trial Board. He has chaired the NYS Society of CPAs Not-for-Profit Organizations, Professional Ethics, Audit, and Quality Controls Committees, and the AICPA Joint Trial Board. Allen has served on the governing boards of not-for-profit organizations, including positions as President, Treasurer, and Chair of the Audit Committee and the Finance Committee.

Alllen received his BBA in 1968 and his MBA in 1973. He was elected to Beta Gamma Sigma, the national honorary society in business.


Price (USD)

Standard: $69.90


Course Code : CPAR1533-FM

Release Date : 09/24/2021
Expire Date : 11/06/2022
Credits :
CPE 2.00
QAS 2.00

Course Level : Update
Course Type : QAS Self-Study

Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting - Governmental

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