CPAR NFP - Accounting & Financial Reporting  |  Format: Flash

Time to Implement: New Not-for-Profit Financial Statements

Course Overview
The first major overhaul of FASB�s not-for-profit accounting rules in more than two decades presents challenges to the notfor- profit executives as well as the audit community that will be implementing the new standard. But Allen Fetterman, who lectures extensively for Loscalzo Institute on accounting and auditing issues for not-for-profit organizations, explains why the guidance is a complete overhaul of not-for-profit financial reporting, even though it does not really affect accounting policies.

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

  • Identify the key elements of ASU No. 2016-14, Presentation of Financial Statement of Not-for-Profit Entities
  • Recognize the changes to net asset classes brought about by the new standard
  • Identify what is new with regards to reporting liquidity under the new standard
  • Recognize how to report expenses under the new standard

    Catalog Number: CPAR1313-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: CPAR Government/Not-For-Profit
    Advanced Preparation:
    Work experience in government accounting or auditing, or an introductory course in government accounting
    Course Level: Update
    Field of Study: Accounting - Governmental
    Content Partner: CPAR Government/Not-For-Profit
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Jan 31, 2018 / Mar 14, 2020