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)

CPA, CGMA
Supervising Project Manager, Financial Accounting Standards Board
CPA, CGMA
Assistant Director, Financial Accounting Standards Board