Accounting and Auditing Update for Not-for-Profits

Overview

This course is offered in collaboration with multiple state societies and is hosted by the Indiana Society of CPAs.

The most effective path to success lies in making yourself indispensable to your clients, and achieving that indispensability requires a robust understanding of your client's business. Explore the latest developments affecting not-for-profits including FASB requirements, OMB, and Yellow Book developments. This course offers a thorough review of updates to the auditor's reporting and conforming standards, ethics, governmental auditing standards, and accounting for not-forprofits. By participating, you ensure you are well-versed in current standards and best practices in not-for-profit accounting and auditing.

Highlights

• Not-for-profit accounting update • Revenue recognition in not-for-profits • FASB’s lease standard • FASB update • Auditor’s report and conforming changes • Auditing Standards Board update • Ethics update • Common audit deficiencies • SSARS and SSAE update • Governmental auditing update

Prerequisites

Knowledge of not-for-profit accounting and auditing

Designed For

Accounting and finance personnel responsible for accounting and financial reporting for not-for-profits and auditors of those entities

Objectives

When you complete this course, you will be able to: • Apply the most recent requirements of the FASB directed toward notfor-profits. • Recall key points related to the latest developments in OMB and Yellow Book requirements. • Identify recent activities of the AICPA and how they affect the auditor’s report.

Preparation

None