2025 Recorded Course Catalog

This comprehensive course provides the critical updates governmental accountants and auditors need to stay informed. We’ll begin with a review of recent GASB standards, including compensated absences, asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. Participants will also gain insights into GASB’s current projects, exposure drafts, and agenda progress to ensure they are up to date on what’s ahead. For auditors, we’ll cover key changes to governmental auditing standards, including the 2024 Yellow Book updates, the transition from quality control to quality management, and implementation timelines, with early adoption options. Single Audit updates will include the 2024 Uniform Guidance changes, the 2025 Compliance Supplement, GAO reports on improper payments and government fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties. Key Takeaways: - Impactful GASB standards effective now and those coming soon. - The 2024 Yellow Book’s focus on quality management and key audit matters. - Single Audit updates, including 2025 Compliance Supplement changes and guidance on related parties. Learn how these updates impact compliance and audit quality, ensuring your organization or clients are prepared. This course ensures you’re equipped with the knowledge needed to navigate the evolving landscape of governmental accounting and auditing with confidence. Upon completing this course, a learner will be able to:

• Recognize the impact of GASB 101 on accounting for compensated absences
• Recall changes to the financial reporting model
• Identify changes to disclosure requirements for certain assets and risks
• Recognize proposed changes to governmental GAAP
• Recall the components of quality management in the 2024 Yellow Book
• Identify changes to single audits as a result of the 2025 Compliance Supplement
• Recognize the impact of the 2024 Uniform Guidance on Single Audits
• Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
• Recognize the requirements of the FDTA
• Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
• Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report

This comprehensive course provides the essential updates for professionals working with governments and not-for-profit organizations. We’ll begin with an in-depth review of recent GASB standards, including compensated absences, certain asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. For each standard, we’ll cover its background, potential impact, and practical strategies for implementation to ensure you’re fully prepared. Next, we’ll shift focus to the FASB and its implications for nonprofit organizations. While there haven’t been recent nonprofit-specific standards, several Accounting Standard Updates (ASUs) significantly impact NFPs. We’ll explore these ASUs, evaluate changes to programmatic investments, and discuss their interplay with the CECL standard. Additionally, we’ll highlight the movement in IFR4NPO, a global initiative to develop universal financial reporting standards for nonprofits, offering insights into its potential worldwide impact. In the second half, we’ll turn to governmental auditing. Key topics include the 2024 Yellow Book updates, the transition from quality control to quality management, and the implementation timelines. For Single Audits, we’ll cover the 2024 Uniform Guidance changes, the 2025 Compliance Supplement, GAO reports on improper payments and fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties. Key Takeaways: - The latest GASB standards and how to effectively plan for implementation. - The FASB's recent updates impacting NFPs, including programmatic investments and CECL. - The global IFR4NPO initiative for nonprofit financial reporting. Stay up to date on governmental auditing changes, including Yellow Book updates and Single Audit developments. This course equips you with the knowledge and tools needed to navigate evolving standards and auditing requirements with confidence, ensuring compliance and excellence in financial reporting. Upon completing this course, a learner will be able to:

• Recognize the impact of GASB 101 on accounting for compensated absences
• Recall changes to the financial reporting model
• Identify changes to disclosure requirements for certain assets and risks
• Identify elements of the proposed IFR4NPO standards
• Recall the impact of recent standard setting on programmatic investments
• Recognize the impact of recent ASUs on nonprofit financial reporting
• Recall the components of quality management in the 2024 Yellow Book
• Identify changes to single audits as a result of the 2025 Compliance Supplement
• Recognize the impact of the 2024 Uniform Guidance on Single Audits
• Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
• Recognize the requirements of the FDTA
• Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
• Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report

This course provides a concise update on key changes in governmental auditing. We’ll review the 2024 Yellow Book updates, including the shift from quality control to quality management, key audit matters, and implementation timelines. For Single Audits, we’ll cover the 2024 Uniform Guidance updates, the 2025 Compliance Supplement, GAO reports on improper payments and fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties. Stay informed on critical standards and updates to ensure compliance and audit quality. Upon completing this course, a learner will be able to:

• Recall the components of quality management in the 2024 Yellow Book
• Identify changes to single audits as a result of the 2025 Compliance Supplement
• Recognize the impact of the 2024 Uniform Guidance on Single Audits
• Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
• Recognize the requirements of the FDTA
• Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
• Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report

This course provides a comprehensive update on the key developments impacting not-for-profit (NFP) accounting and auditing in 2025. While the FASB hasn’t recently issued NFP-specific standards, several Accounting Standard Updates (ASUs) will significantly affect nonprofit organizations. We’ll review these changes and their implications. We also explore the growing relevance of programmatic investments and their interplay with the Current Expected Credit Losses (CECL) standard, and examine the IFR4NPO initiative, a global project aimed at establishing universal financial reporting standards for nonprofits. On the auditing side, we’ll delve into the impact of the new quality management standards, impacting firms that provide attestation services, including compilations and reviews for nonprofits. This session will equip you with the insights needed to navigate these changes and stay compliant. Upon completing this course, a learner will be able to:

• Identify elements of the proposed IFR4NPO standards
• Recall the impact of recent standard setting on programmatic investments
• Recognize the impact of recent ASUs on nonprofit financial reporting
• Recall the components of quality management in the 2024 Yellow Book

This course provides auditors who serve nonprofit and governmental organizations with a comprehensive update on the changes impacting Single Audits in 2025. We’ll review key revisions to the Uniform Guidance issued in 2024 and their implications for this year’s audits. We will discuss updates in the 2025 Compliance Supplement. Additionally, we’ll explore topics of interest, including GAO findings on improper payments and government fraud, new requirements under the Financial Data Transparency Act (FDTA), and the Department of Education’s latest guidance on related parties. Stay informed and ready to tackle this year’s audit challenges! Upon completing this course, a learner will be able to:

• Identify changes to single audits as a result of the 2025 Compliance Supplement
• Recognize the impact of the 2024 Uniform Guidance on Single Audits
• Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
• Recognize the requirements of the FDTA
• Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
• Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report

The Government Accountability Office (GAO) has released the 2024 Generally Accepted Government Auditing Standards (GAGAS). This course will examine the major changes, including the shift from quality control to quality management and the introduction of key audit matters. The 2018 Yellow Book remains effective until the implementation of the 2024 edition, which applies to: financial audits, attestation engagements, and reviews of financial statements for periods beginning on or after December 15, 2025, as well as Performance audits beginning on or after December 15, 2025. Organizations must design and implement a system of quality management by December 15, 2025, and complete an evaluation of the system by December 15, 2026. Early adoption of the 2024 Yellow Book is allowed. Gain the insights you need to navigate these critical updates effectively. Upon completing this course, a learner will be able to:

• Recall the components of quality management in the 2024 Yellow Book

Yellow Book and Single Audit engagements are considered must-select engagements for peer review. This course will review the common deficiencies noted by peer reviewers and federal agencies. We'll focus on the requirements of Yellow Book independence, CPE, and reporting. We will also review deficiencies related to internal controls over compliance, compliance testing, and major program determination for Single Audits. We'll close the course with a look at the deficiencies often identified in COVID-related funds. Upon completing this course, learners will be able to:

• Identify common deficiencies in Yellow Book Engagements
• Recall the independence requirements in Yellow Book
• Identify common single audit deficiencies
• Recall common deficiencies found related to COVID-19 funding

Governmental accounting is distinct from other forms of accounting, requiring a unique approach to financial reporting. This course introduces the fundamentals of governmental accounting, including fund accounting principles and the modified accrual basis of accounting. Participants will explore the structure and purpose of fund financial statements alongside government-wide financial statements, gaining a comprehensive understanding of their layouts and key elements. The course also delves into critical topics such as the concept of component units, the role and structure of Management Discussion & Analysis (MD&A), and the preparation and importance of the Annual Comprehensive Financial Report (ACFR). Perfect for those new to governmental accounting, this course provides a solid foundation for understanding and applying these essential principles. Upon completion of this course, a learner will be able to:

• Recall the requirements of governmental financial reporting
• Recognize organizations that follow governmental financial reporting standards
• Identify elements of governmental financial statements
• Identify the appropriate fund classification
• Identify the requirements to be a component unit
• Recognize the components of net position for different fund types

Not-for-profit organizations encounter distinct accounting complexities. This course provides an introduction to the financial statements and specialized accounting principles relevant to nonprofits. Attendees will explore key topics such as net assets, agency transactions, contributions, and endowments—focusing on the unique transactions and account balances that define not-for-profit accounting. Upon completion of this course, a learner 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
• Identify agency transactions

Single Audits are a critical area of focus under the AICPA's Enhancing Audit Quality Initiative, requiring a thorough understanding of the Uniform Guidance's unique audit requirements for federal funds. This course examines the distinctive performance and reporting standards in Single Audits, equipping participants with foundational knowledge to navigate these complex audits effectively. Key topics include an overview of internal controls over compliance, understanding compliance requirements, using the Compliance Supplement, and identifying the elements of a finding in a Single Audit. This course is ideal for professionals seeking a clear and practical introduction to the essentials of Single Audits. Upon completion of this course, a learner will be able to:

• Recall the unique auditing requirements in the Uniform Guidance
• Identify the requirements of major program determination
• Recognize when a single audit is required
• Identify the elements of a finding in a Single Audit
• Recall the reporting requirements for a Single Audit
• Identify internal controls over compliance
• Identify the compliance requirements in the Compliance Supplement

Performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as the "Yellow Book," involves additional reporting, ethics, and performance requirements that go beyond those outlined in AICPA Generally Accepted Auditing Standards (GAAS). This course provides an overview of the guidance found in the Yellow Book and explores its relationship with the AICPA Code of Professional Conduct. Participants will gain an understanding of the unique CPE requirements for GAGAS engagements and review the Yellow Book standards for financial statement audits, with a focus on ethical principles and independence. This course is designed to equip professionals with the foundational knowledge needed to navigate the complexities of Yellow Book engagements effectively. Upon completion of this course, a learner 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

This 8-credit boot camp is perfect for accountants in public practice or industry who work with nonprofit and governmental entities. The course starts by exploring key financial reporting differences for these organizations, providing a solid foundation for understanding what makes their accounting and auditing unique. Participants will then dive into the essentials of Yellow Book and Uniform Guidance audits, gaining practical insights to confidently navigate these specialized areas. Whether you're new to the nonprofit and governmental arena or seeking a refresher, this course equips you with the knowledge and tools to succeed. Upon completion of this course, a learner will be able to:

• Identify the proper accounting for governmental entities
• Recognize the CPE, reporting, and independence requirements in Yellow Book
• Recall the performance and reporting requirements for Uniform Guidance
• Identify the proper accounting for transactions unique to nonprofit organizations

  This course is also available as four independent 2-credit modules.Y

This course provides a comprehensive overview of key changes affecting governmental financial reporting and Single Audit engagements. We'll begin by examining the impact of GASB Statements 101-104 on financial reporting, followed by a detailed review of updates to the 2024 Uniform Guidance and the 2025 Compliance Supplement. Finally, we’ll explore emerging developments and other critical factors shaping Single Audits. Stay ahead of the curve with insights to help you adapt to these evolving standards. Upon completing this course, a learner will be able to:

• Recognize the impact of GASB 101 on accounting for compensated absences
• Recall changes to the financial reporting model
• Identify changes to disclosure requirements for certain assets and risks
• Recognize proposed changes to governmental GAAP
• Identify changes to single audits as a result of the 2025 Compliance Supplement
• Recognize the impact of the 2024 Uniform Guidance on Single Audits
• Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
• Recognize the requirements of the FDTA
• Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
• Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report