7. GAAP Update

Track: 
Accounting & Auditing
Yellow Book
Field of Study: 
Accounting
Auditing (Governmental)
CPE Credit: 
2.0
Knowledge Level: 
Update
Advanced Preparation: 
None
Prerequisite: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Monday, June 18, 2018
 
3:45PM-5:25PM

This session will provide an overview update on: recent Accounting Standards Updates (ASUs), especially the final ASU on Grants & Contracts to NFPs; implementation matters concerning ASUs that are newly effective or soon to be effective (especially NFP Financial Statements, Revenue Recognition, and Leases); and significant FASB projects in process.

Learning Objectives:

  • Obtain a general understanding of the applicability and key provisions of the final ASU on Grants & Contracts to NFPs (deeper dive in Session 65).
  • Obtain an awareness and general understanding of key provisions/ implementation matters concerning recent major and other standards (deeper dives in other sessions), and an awareness of noteworthy ongoing FASB projects affecting NFPs.


SESSION SPEAKER(S)