Courses Currently Available On Demand

The Not-for-Profit Advisory Committee has been busy discussing several projects that the FASB is working on and their impact on nonprofits. In this course, we will review the key issues and discussions from recent NAC meetings. We'll also take a look at ASUs issued by the FASB that may impact nonprofit financial statements. After a break, we then transition from accounting to auditing with a look at the common deficiencies found in nonprofit Yellow Book audits with a focus on CPE, reporting, and independence. Upon completing this course, learners will be able to:

• Recall the impact of ASUs on nonprofit organizations
• Recall the activities of the Nonprofit Advisory Committee
• Identify the financial reporting impact of modification of lease contracts
• Identify common deficiencies in nonprofit accounting
• Recall the proper accounting agency transactions and functional expenses

The Not-for-Profit Advisory Committee (NAC) has been meeting with FASB to discuss the impact of various standards on the nonprofit community. In this course, we will explore the work of the NAC and the impact they've had. We then transition to the Accounting Standards Updates (ASUs) issued by the FASB that are impacting nonprofit entities, including a review of year 2 issues with respect to the leases standard including modification accounting. We will close with a look at common deficiencies found in nonprofit financials. Upon completing this course, learners will be able to:

• Recall the impact of ASUs on nonprofit organizations
• Recall the activities of the Nonprofit Advisory Committee
• Identify the financial reporting impact of modification of lease contracts
• Identify common deficiencies in nonprofit accounting
• Recall proper accounting for agency transactions and functional expenses

This course will review the Accounting Standard Updates issued by the FASB that impact nonprofit entities. We will also look at the work of the Not-for-Profit Advisory Committee (NAC) and the projects they are advising the FASB on. Upon completing this course, learners will be able to:

• Recall the impact of ASUs on nonprofit organizations
• Recognize the activities of the Nonprofit Advisory Committee (NAC)

Governmental accounting is very unique. This course will introduce the financial reporting basics for governments, including fund accounting and the modified accrual basis of accounting. Attendees will analyze the layouts of the fund financial statements as well as the government-wide financial statements. The course will also cover component units, Management Discussion & Analysis (MD&A), and the Annual Comprehensive Financial Report. Upon completing this course, learners will be able to:

• Recall the requirements of governmental financial reporting
• Identify organizations that follow governmental financial reporting standards
• Recognize why governmental entities require different financial reporting requirements than for-profit and non-profit nongovernmental entities
• Identify definitions of key governmental terms

Nonprofits face unique accounting challenges. This course will introduce attendees to the financial statements and unique accounting principles applicable to not-for-profit organizations. Specifically, we will focus on the typical transactions and account balances unique to NFPs, including net assets, agency transactions, contributions, endowments, and programmatic investments. Upon completing this course, learners will be able to:

• Recall the unique accounting principles and transactions applicable to NFP organizations
• Identify the basic financial statements of nonprofit organizations
• Recall the accounting for contributions
• Identify net asset classifications for nonprofit organizations

Performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS or Yellow Book) requires additional reporting, ethics, and performance requirements. This course will identify and review the guidance found in the Yellow Book and analyze the relationship between Government Auditing Standards and the AICPA Code of Professional Conduct. We will review the Yellow Book requirements for financial statement audits while also touching upon ethical principles and independence. Upon completing this course, learners will be able to:

• Recognize the unique auditing requirements in the Yellow Book
• Recognize the independence requirements for Yellow Book engagements
• Identify the CPE requirements for Yellow Book engagements
• Recall the reporting requirements of Yellow Book

We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We will then switch to audit sign of the house with the changes in the 2024 Yellow Book. We'll close by examining the impact of the 2024 Compliance Supplement on Single Audits and the changes to the Uniform Guidance. Upon completing this course, learners will be able to:

• Recall the impact of GASB 100 and 101 on financial reporting for governments
• Recall the impact of GASB standards effective in 2024
• Recognize the changes to Chapter 5 of Yellow Book
• Identify changes to Single Audits as a result of the 2024 Compliance Supplement Recognize the changes to Uniform Guidance