CPE Course Not-for-Profit Financial Reporting: Mastering Unique Requirements

November 6, 2017

8:30am — 4:15pm

Location Manchester

Member Price $259.00Register after October 16 and pay $279.00
Non-member Price $359.00Register after October 16 and pay $379.00

Curriculum Yellow Book

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

Level Intermediate

Designed For

Professionals working with or in the not-for-profit environment

8.00 credits

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Objective

Do you know what makes not-for-profit accounting and financial reporting different? Are you aware of how not-for-profit financial statements will change as a result of the FASB’s Financial Statement Project? Through a combination of practical guidance and case studies, this course will provide insight into what makes not-for-profits different while training you to clear key hurdles in not-for-profit accounting and reporting in an efficient and effective manner. Avoid the potholes of confusion and provide a financial picture that end users can truly understand.

LEARNING OBJECTIVES
When you complete this course you will be able to:
• Identify the impact of the FASB’s Not-for-Profit Financial Statement Project.
• Identify the unique aspects of the not-for-profit environment.
• Apply the unique not-for-profit accounting and reporting requirements.
• Recall ways to perform more effective audits of not-for-profit organizations with better knowledge of not-for-profit accounting and reporting requirements.

Highlights

TOPICS DISCUSSED
• Core elements of financial reporting
• Exchange transactions and contributions
• Reporting and measuring results
• Impact of FASB’s Not-for-Profit Financial Statement Project

Instructors

Lee Klumpp, CGMA, CPA

Lee Klumpp is BDO’s National Nonprofit & Education Industry Group Audit and Accounting Technical Leader. Lee recently completed a fellowship at the Financial Accounting Standards Board (FASB). During Lee's fellowship, he led the FASB's project to reexamine existing standards for financial statement presentation by not-for-profit entities, focusing on improving the net asset classification requirements and information provided in financial statements and notes about liquidity, financial performance, and cash flows. He also focused on various FASB agenda projects and implementation and emerging practice problems in the nonprofit industry. His responsibilities included making recommendations to the Board on technical issues and developing and drafting Accounting Standards Update. Lee has 20 years of experience serving a diverse group of nonprofit organizations while working for BDO and previously in the audit practices of Ernst and Young, LLP and KPMG. In his role at BDO, he spends a significant amount of time researching, writing, and disseminating information related to recent accounting and auditing pronouncements promulgated by the FASB, the Governmental Accounting Standards Board (GASB), the Office of Management and Budget, the Government Accountability Office, the Auditing Standards Board, and other groups that provide guidance for the nonprofit industry. Additionally, Lee is an accomplished speaker and has spoken on various not-for-profit accounting, governance auditing, internal control, governance, financial reporting, and single audit issue topics related to nonprofit organizations around the country.close

Prerequisites

Experience in the not-for-profit environment

Developer

AICPA

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