66. Accounting and Auditing for Estimates

Track: 
Accounting & Auditing
Field of Study: 
Accounting
Auditing
CPE Credit: 
1.5
Knowledge Level: 
Intermediate
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.

Wednesday, June 20, 2018
 
10:45AM-12:00PM

This session will cover the areas in nonprofit accounting that require significant estimates and give the preparer and auditing perspective on these matters. Examples will be covered in:

  • Discounts on long-term receivables including pledge receivables
  • Collectability and allowances on receivables
  • Allowances on inventories
  • Valuation and impairment of investments
  • Deferred revenue, liabilities and swaps
  • Allocations of expenditures
  • Useful lives and impairment of long-lived assets 
  • Donated goods and services

Learning Objectives:

  • Participants will identify where estimates are used in the financials
  • Session will provide clarity on the responsibilities of management vs. auditors in relation to estimates


SESSION SPEAKER(S)

CPA
Partner, Moss Adams LLP
CPA
Partner, Crowe Horwath LLP