CPAR NFP - Auditing Practice

CPAR GOV/NFP - Vol. 2020 - No. 3 - 01 - Nonprofit Accounting and Auditing Updates - Part I

The AICPA has published the 2020 edition of the Audit and Accounting Guide and Audit Risk Alert for nonprofit organizations. The Audit and Accounting Guide, although nonauthoritative, contains recommendations from FinRec in areas not covered by the FASB ASC and includes new ASUs and changes to the auditor’s report on financial statements. The Audit Risk Alert, Not-for-Profit Entities Industry Developments, focuses on emerging practice issues and current economic legislative, regulatory, accounting and auditing developments. Allen Fetterman, CPA gives us a brief overview of the FASB and AICPA guidance and how it relates to the Accounting Standard Codification and FinRec.

Learning Objectives:

  • Identify the purpose of the annual AICPA’s Audit and Accounting Guide and Audit Risk Alert,
  • Recognize steps not-for-profits need to consider to implement Rev Rec and Lease standards during the extension period,
  • Determine the key provisions under ASU 2019-06 on impairment of goodwill and other intangible assets for not-for-profits, and
  • Understand the changes in the definition of collections under ASU 2019-03.

Prerequisites/Advanced Preparation:

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

Speaker / Author:

Allen Fetterman, CPA


Price (USD)

Standard: $69.90


Course Code : CPAR1475-FM

Release Date : 10/28/2020
Expire Date : 12/08/2022
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 : Auditing - Governmental

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