Insights: Seminar

FASB ASU 2016-14 Nonprofit Financial Reporting Changes and Tax Reform: Preparing your Organization

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Course Description:
The Financial Accounting Standards Board (FASB) has issued new guidance for the presentation of nonprofit organizations’ financial statements. The standards update includes key changes related to net asset classification, liquidity and availability of resources, expense reporting, investment return, and the statement of cash flows. In addition, the most significant tax reform in over thirty years has been signed by the President. Several provisions will have an impact for tax-exempt organizations.

Learning Objectives:
• Identify the most significant and complex challenges in adopting FASB's new financial statement standard.
• Determine policies, procedures and systems that should be in place as a result of the standard.
• Identify implementation techniques that could assist in converting a nonprofit's financial statements and footnotes to the new standard.
• Identify key provisions of the newly passed Tax Cuts and Jobs Act for tax-exempt organizations.
• Review other current activities within the IRS that could have an impact on your organization

Presenters: Kim Hunwardsen, Kristin Diggs, Lealan Miller, Lia Dunne

Event Details:
Register to Shannon Sheehan by April 10 for this event.
Registration End Time: 8:00
Registration End Time: 8:30

Agenda:
8:00 - 8:30 - Registration and Breakfast
8:30 - 10:30 - ASU 2016-14 (Kristin Diggs, Lealan Miller, Lia Dunne)
10:30 - 10:40 - Break
10:40 - 12:00 - Impact of Tax Reform (Kim Hunwardsen)

CPE Credits:
4
Field of Study: Auditing (3 CPE Hours) & Tax (1 CPE Hour)
Program Level: Basic
Delivery Method: In-Person Group

Additional Information:
These are live-group seminars. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

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