Not-for-Profit Update

Overview

You could pay $0 for this course!
This course qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% of the cost of training reimbursed. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks before the start date of the course to be eligible. The course code for this program is C-4011. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

This course provides an update to the recent accounting pronouncements affecting not-for-profits, the not-for-profit landscape, recent audit pronouncements and very important updates for those performing single audits and other types of compliance audits. Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.

Prerequisites

None

Designed For

• Practitioners working with nonprofit organizations in public practice • Nonprofit industry accountants who want a deeper dive into NFP accounting and disclosure requirements

Objectives

Participants will be able to: • Implement the most recent accounting and disclosure requirements impacting not-for-profit entities • Evaluate how the changes to auditing standards impact their financial statement audits. • Recognize areas of risk in a not-for-profit and integrate the awareness of risk in financial statement audits. • Identify the most recent OMB, Federal agency, and Single Audit requirements and be able to test them.

Preparation

None