Stay current with this deep dive into accounting for and auditing nonprofit revenue streams. During this session, we’ll review recent new standards. The case studies will include familiar and complex situations and audit techniques to identify potential misstatements.
Target Audience
CPAs, auditors, accountants and financial professionals that work in or with nonprofits.
Course Objectives
Recognize financial statement presentation requirements for nonprofits
Learn about how to account for and disclose COVID-related assistance and risks
Learn about the new grant accounting guidance in ASC 606 and gifts-in-kind standard
Plan for changes required by the new revenue recognition and lease accounting standards
Consider methodologies for cost allocation for the functional presentation and grant accounting needs
Identify accounting challenges for nonprofits
Identify audit issues unique to nonprofits
Subjects
Pledges and contributions
Restrictions and conditions
Special concerns with governmental funding
Donated goods and services
Special events
Revenues earned through sales and services to customers
Prerequisites
Familiarity with accounting requirements for nonprofits and generally accepted auditing standards.