Getting It Right: Understanding the Not-for-Profit Financial Reporting Standards

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Getting It Right: Understanding the Not-for-Profit Financial Reporting Standards

6/13/2019 11:30 AM - 01:00 PM (CT)

Are you ready for the first substantial change in not-for-profit financial reporting in decades? Not since FASB 116/117 was issued in the 1990s has there been such a significant modification in the way that NFPs tell their story. Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14 was issued in August 2016 and is effective for years beginning on or after December 15, 2017. 

This standard update is Phase I and will impact virtually every not-for-profit organization and the presentation of their financial statements. 

Key changes include net asset classification, presentation of investment return/expenses, reporting and disclosure of operating measures, reporting and disclosure of liquidity/availability and resources, and presentation of the cash flow statement. 

Join us to learn about these changes, how you can help your auditors in gathering information, and what you can do to efficiently and timely implement the changes.

Learning Objectives

1. Share the main components and objectives of the new standard.
2. Review examples of what the changes will look like, in comparison with existing GAAP in order to compile the appropriate information for your organization.
3. Discuss and formulate an implementation plan for your organization.

Trainer(s)

Stephanie Cavadeas, CPA
Partner, Nonprofit and Government Practice

Registration Fee

• $20 (includes lunch)
• Limited to 30 people

Registration fees include:

• 1 CPE credit in accordance with the standards of the National Registry of CPE Sponsors. CPE credits are granted based on a 50-minute hour.
• Lunch

Cancellation Policy
There is no penalty for cancellation before June 10, 2019.  After that date, there will be no refunds.

Location Information

Wipfli LLP
2501 W Beltline Hwy, Ste 401
Madison, WI 53713

888.876.4992

Daily Schedule

Thursday, June, 13, 2019      

11:30 a.m. – 1:00 p.m.               Networking, Lunch and Training

*CPE

National Registry of CPE Sponsors: Wipfli LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the national Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Instructional Delivery: Group-Live.  For more information regarding administrative policies, such as complaint, cancellation, and refund policies, please contact our offices at 888.876.4992.