FASB Update No 2016-14 creates changes to the Presentation of Financial Statements of Not-for-Profit Entities (Topic 958). This session will discuss those changes that will be effective for December 31, 2018 year ends. This webinar will cover the different areas affected by this standard and which changes can be adopted early without adopting the entire standard.
Please join Diane Edelstein, CPA, as she discusses the new requirements for the Presentation of Financial Statements of Not-for-Profit Entities and which changes can be adopted early without adopting the entire standard.
WHAT YOU’LL LEARN
You will learn about the key areas of change:
- Presenting only two classes of net assets
- The change in accounting for underwater endowments
- Elimination of the disclosure of investment return components
- Options for the Statements of cash flows
- Expanded disclosure of board-designated net assets
- Adjustment to the placed-in-service approach for the recognition of revenue
- Statement of Functional Expense disclosure for all Not-for-Profits
- Expanded disclosures for expense allocation methodology
- Disclosures on liquidity and availability of financial assets.
- AND MUCH MORE!
YOUR CONFERENCE LEADER
Your conference leader for “The New Not-for-Profit Entities Reporting: Areas Affected by the New Standard & Changes Which Can Be Adopted Early” is Diane E. Edelstein, CPA and partner, Maher Duessel, Pittsburgh, Pennsylvania. Ms. Edelstein has more than 25 years of auditing experience. At Maher Duessel she is the director of quality control for the firm and is responsible for assuring the firm’s compliance in the American Institute of Certified Public Accountants (AICPA) Governmental Audit Quality Center and specializes in single audits. She was issued an Advanced Single Audit Certificate by the AICPA in April, 2016. Diane serves as partner on several audit engagements with local governments and nonprofits including HUD-funded agencies, human service organizations, municipalities, religious institutions, associations, and educational agencies. She is a sought after speaker and lecturer, and has presented for the AICPA, PICPA, and other organizations on numerous topics including single audit, new uniform guidance, and other important issues. She is active in the AICPA and PICPA, as well as her community as a volunteer.