Not-For-Profit Accounting, Auditing, And Tax Update

Webinar: ID# 1010249
About This Course:
The Tax Cuts and Jobs Act did not spare the Not-for-Profit sector, so this program will provide an update on some implementation questions that have been raised, including:
  • New excise taxes
  • New UBTI rules
  • Changes affecting fringe benefits, charitable contributions, and art collectors who donate to museums
  • Changes in contribution substantiation rules
  • Change in individual taxation affecting donations, some with positive effects and some with negative effects
  • ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate with stakeholders. It is effective for fiscal years beginning after December 15, 2017
  • ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, impacts how Not-for-Profit Entities records grants and contributions. It provides clarification on identifying conditions within grant and contribution agreements. It is effective for fiscal years beginning after June 15, 2018 for public entities, and after December 15, 2018 for all other entities. This program will provide an overview of the standard as well as review example transactions
This program also provides an overview of other recent standards issued and projects in progress that impact Not-for-Profit entities.

Bottom line, our panel of experts will provide you with what you need to know about the latest and most important GAAP and tax developments affecting non-profit organizations.

Included Materials

All ACPEN courses include handouts that are available to download. Handouts typically include a version of the slides used by the presenter, as well as a full course manual or other materials.

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