Nonprofit Accounting and Auditing Update WEBAST

Tuesday, August 24 8:00am - 3:30pm PDT

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8.0 Credits

Member Price $289.00

Non-Member Price $389.00

Overview

Stay current in the nonprofit world with this comprehensive discussion of recent changes and requirements for nonprofit accounting and auditing. This year’s course will include a section covering the recognition and presentation of COVID-related transactions and uncertainties in the nonprofit context, as well as new accounting standards that will affect nonprofit organizations. Review common errors in nonprofit financial statements and audit issues unique to nonprofits, as well as the recently issued financial reporting changes to nonprofits.

Highlights

Revenue recognition (606) implementation for organizations that took advantage of the delay. Gifts-in-kind - New standard and review of valuation concerns. COVID impact on nonprofit organizations - Financial statement disclosure considerations and accounting for Federal assistance (including Paycheck Protection Program). Impact of remote work on audit risk and internal control. Recent changes to financial statement presentation and a refresher regarding the new lease standard.

Prerequisites

Familiarity with accounting requirements for nonprofits and generally accepted auditing standards.

Designed For

CPAs, auditors, accountants and financial professionals.

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.

Preparation

None.

Notice

None.

Leader(s):

Leaders

B Ordeneaux

Renee Ordeneaux has more than 25 years of experience in public accounting and in industry, including various management roles within several nonprofit organizations, from membership director to CFO. She is a partner at Armanino LLP, the largest accounting firm based in California, where she provides audit and tax services to a broad range of nonprofit groups, including social services organizations, health clinics, religious congregations, mentoring programs and foundations. Prior to RBZ’s merger with Armanino, she led RBZ’s audit practice. She serves on the Armanino quality control committee and nonprofit practice group. Ordeneaux volunteers her time with various nonprofit organizations, and is treasurer of the Theodore Payne Foundation, an organization promoting the use of California’s native plants in landscapes, and the board chair of Upward Bound House, which provides supportive housing services to homeless families. She is a former board president and treasurer of the Los Angeles Junior Chamber of Commerce. She is a frequent speaker on nonprofit accounting and finance issues, and taught nonprofit accounting in the UCLA Extension accounting program for five years. Ordeneaux has a bachelor’s degree in English literature from the University of Texas, Austin, and a master of business administration from the Anderson School of Management at the University of California, Los Angeles (UCLA). She is a member of the AICPA and CalCPA.

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Non-Member Price $389.00

Member Price $289.00