Webcast: Not-for-Profit Organizations Accounting and Auditing

Changes in the accounting and auditing literature continue to have major effects on nonprofit organizations, and practitioners must deal with many new accounting and auditing issues. These include fair value measurements, endowments, consolidations, mergers and acquisitions, uncertain tax positions and communications to governing bodies. Other continuing issues include recognizing contributions and other revenues, agency transactions, split-interest agreements, designing and performing A-133 audits, and a variety of other presentation and disclosure matters.  Firms need to be prepared for peer reviews under the recent changes in quality control standards. The risk assessment standards are well-established, but some practice problems have come to light, including the evaluation and documentation of internal controls, walkthroughs and linking risk to the audit response. The new Clarity Standards will affect 2012 audits. CPAs want to perform nonprofit audits effectively and profitably, and the task is challenging.  This course covers recent developments for nonprofits and provides a general accounting and auditing review and update, including a review of the Accounting and Auditing Guide: Nonprofits, and offers practical guidance on the implementation of recent accounting developments and auditing standards. Get practical help on how to meet standards and perform efficient audits. The course deals with some of the more common  problems and unusual transactions encountered with nonprofit engagements. It also offers examples of typical financial statement presentation and disclosure topics.