Nonprofit FASB Reporting Requirements Update (OnDemand Webinar)

$199.00

SKU: 408945EAU

Description

Gain an understanding of these changes as well as implementation tips.With the impact of the COVID19 pandemic and new accounting standards, changes are in store for nonprofit organizations that will impact nearly every nonprofit organization’s financial statements. We will highlight standards that may need to be applied to your financial statements due to the impact of the pandemic such as going concern, functional allocation of expenses and lease concessions as well as how to handle changes in events. Has your organization received COVID19related funding? Do you know how to account for these transactions? Did this funding create a single audit requirement? To answer these questions, we will dive into the accounting for PPP loans, single audit requirements, and accounting for credits and deferred payroll taxes. We will round out our discussion with an exploration of accounting and other standards effective now and in the future including those impacting revenue recognition, fair value disclosure, goodwill and intangibles, collections, lease accounting, gifts in kind, reference rate reform and auditor reporting standards.

Date: 2021-08-02 Start Time: End Time:

Learning Objectives

Accounting Standards Relevant in 2021 Due to the COVID-19 Pandemic
• Changes in Events
• Going Concern
• Functional Allocation of Expenses
• Lease Concessions

Impact of PPP and Other COVID-19-Related Funding on Financial Statements
• Accounting for PPP Loans
• When Is a Single Audit Required?
• What Is the Employer Retention Credit?
• Accounting for Credits and Deferral of Payroll Taxes

New Accounting and Other Standards Effective Now and in the Future
• Revenue Recognition
• Fair Value Measurement Disclosure Framework
• Goodwill and Intangibles
• Updating the Definition of Collections
• Lease Accounting
• Gifts in Kind
• Reference Rate Reform
• Auditor Reporting Standards

AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Marie C. Caputo, CPA, CGMA, CGFM-CliftonLarsonAllen