Webinar: Getting It Right: Understanding the Not-for-Profit Financial Reporting Update
5/8/2018 10:00 AM - 11:00 AM (CT)
Advanced Preparation: None
Field of Study: Accounting
CPE*: 1.0 credit
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 the webinar 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.
- Share the main components and objectives of the new standard.
- Review examples of what the changes will look like, in comparison with existing GAAP in order to compile the appropriate information for your organization.
- Discuss and formulate an implementation plan for your organization.
Notice of cancellation must be received 24 hours prior to start time of the webinar for a full refund of registration fees. If Wipfli cancels the webinar, you will be notified 24 hours prior to the webinar via email. All registration fees will be refunded. For questions or concerns, please call 888.876.4992.
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 Internet-Based. For more information regarding administrative policies, such as complaint, cancellation, and refund policies, please contact our offices at 888.876.4992.