CPE Course The Essential Course for Preparing Not-for-Profit Financial Statements Under ASU No. 2016-14

May 29, 2018

8:30am — 4:15pm

Location Manchester

Member Price $259.00Register after May 8 and pay $279.00
Non-member Price $359.00Register after May 8 and pay $379.00

Curriculum Accounting & Audit

Field of Interest Accounting (General), Government (General)

Level Intermediate

Designed For

Not-for-profit industry professionals and auditors

Objective

ASU No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, will usher in the most significant changes to not-for-profit financial reporting in over 20 years when it becomes effective for December 31, 2018, year-ends. To properly implement the new financial reporting model professionals will need to have a strong, working knowledge of the new requirements. Now is the time to obtain that knowledge! This course will explain the new requirements, illustrate how the requirements will manifest themselves in the financial statements, and explain key options that not-for-profits have in implementing the requirements. The course will also update on you on today’s core not-for-profit accounting requirements while also examining other key issues on the horizon related to revenue recognition and leases. The course materials utilize a highly illustrative and innovative format, including over 25 focused exercises to provide an enhanced working knowledge of not-for-profit accounting and reporting.

Objectives:
* Obtain a working knowledge of the new not-for-profit financial reporting requirements contained in ASU No. 2016-14
* Skillfully prepare a not-for-profit’s financial statements through superior knowledge of accounting and reporting requirements
* Effectively apply today’s core not-for-profit accounting requirements while also preparing for tomorrow’s changes coming in the areas of revenue recognition and leases

Highlights

* Changes in the reporting of net assets and how they will play out in the statement of financial position and the statement of activities
* How the reporting of functional and natural expense information is changing
* The new requirements related to providing liquidity information
* Changes to the statement of cash flows
* Core not-for-profit accounting requirements related to contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more
* Developing issues related to revenue recognition and leases

Instructors

Jeffrey Lieman CPA

Jeff Lieman is currently a Chief Examiner for the Maryland Insurance Administration where he is responsible for solvency examination of Maryland Domestic Insurance companies and concurrently heads his own local consulting firm in Owings Mills, MD. Jeff's previous experience has included serving as a Director for Ellin & Tucker, Chartered where he developed two new niche areas for the firm and supervised numerous audit service engagements. Jeff trained staff in many areas of accounting, administration and consulting and provided training services on a national level to other organizations. He reviewed numerous accounting systems and assisted in the selection and implementation of automated systems, helped develop policies and procedures for technology usage, work paper development, administrative procedures and other office policies, and also provided Peer Review Services (SEC section). Jeff also served as a Senior Manager with KPMG/Baltimore. At KPMG he maintained client relations, marketed audit, tax and consulting services, and managed audit related services for publicly traded and privately held entities. His clients included real estate ventures, printing and publishing companies, electronic manufacturers, wholesale distributors, retail stores, financial institutions, construction contractors, Governmental units, and various nonprofit organizations. Mr. Lieman has been a national trainer for KPMG where he developed training materials for staff and instructors and is recognized nationally as a lecturer for various technology and accounting topics and has been quoted in various trade journals. He was elected Chairman of the Year by the Maryland Association of CPAs for chairmanship of the Computer Resources Committee.close

Prerequisites

Some introductory background in not-for-profit accounting and reporting

Developer

Surgent McCoy CPE, LLC

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