Governmental and Not-for-Profit Annual Update
Available for 1 year after purchase date
**OnDemand**
11.0 Credits
Member Price $225.00
Non-Member Price $290.00
Overview
The latest GASB developments and federal audit changes affecting governments and not-for-profits (NFPs) are explored in this update overview.
Highlights
Key Topics
- GASB update
- Not-for-profit accounting update
- Compensated absences
- GASB Statement No. 102, Certain Risk Disclosures
- FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
- Statement on Quality Management Standards (SQMS) No. 1, 2, and 3
- Auditing Standards Board update
- Governmental auditing update
Prerequisites
Basic knowledge and experience in governmental and not-for-profit accounting and auditing
Designed For
Who Will Benefit
Accountants and finance professionals working with governments and not-for-profits
Objectives
Learning Outcomes
- Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
- Identify the projects that are on the active standard-setting agenda and their objectives.
- Identify when a liability should be recorded for compensated absences.
- Apply the disclosure criteria related to concentrations and constraints to determine whether and how to make disclosures required under GASB Statement No. 102, Certain Risk Disclosures.
- Identify how FASB's Accounting Standards Updates affect not-for-profit financial statements.
- Apply FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to an example financial instrument.
- Apply ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, to various goodwill scenarios.
- Identify the requirements of recently issued or effective Statements on Auditing Standards (SASs).
- Identify the requirements of Statement on Quality Management Standards (SQMS) No. 1, A Firm's System of Quality Management, SQMS No. 2, Engagement Quality Reviews, and SQMS No. 3, Amendments to QM Sections 10, A Firm's System of Quality Management, and 20, Engagement Quality Reviews.
- Identify recent changes to the AICPA Code of Professional Conduct that affect auditors of governments and NFPs.
- Distinguish the provisions of the Government Auditing Standards 2024 Revision.
- Identify Yellow Book requirements related to independence, management's responsibilities, and reporting.
- Identify changes to the Uniform Guidance.
Non-Member Price $290.00
Member Price $225.00