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ASU 2016-14: PRESENTATION OF FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES

Cost $15.00
Presentation Length 1.0 hour

Recorded DateJuly 9, 2019
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Series: Non-Profits
Course Description

ASU 2016-14: Presentation of Financial Statements for Not-for-Profit Entities (“ASU”) was released August 18, 2016 by the Financial Accounting Standards Board (“FASB”) and is effective for fiscal years beginning after December 15, 2017. The issuance of this new ASU represents a fundamental financial statement reporting change for not-for-profit entities which has not occurred in over 20 years. This webinar attempts to convey the most recent accounting developments that will impact the presentation of the financial statements. Topics to be covered include: revised net asset classifications, liquidity and availability, expense reporting, investment return and statement of cash flows.

Learning Objectives

  • Discuss implementation of ASU 2016-14.

  • Review samples of reporting changes to NFP financial statements required by ASU 2016-14.

  • Discuss important points to convey in management and board meetings.

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Testimonials

Sonia Perez (Sonia E. Perez, CPA)

"I do not do non-profit work, but I took the webinar for general information since I am an accountant in public practice. I was so impressed by the quality of the presentation. The instructor was so knowledgeable, and prepared! He spoke with authority and in a manner that was easy to follow and very relevant to what he was teaching. The materials were easy to follow and quite instructive. I also loved the poise he conveyed in his voice and the tempo of his speech! I am glad I attended. I learned a lot. :-)"
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Richard Bingman (Ginsberg Nottingham & Mapp)

"This has been the best presentation of several I have taken concerning the new changes under ASU 2016-14! Alex does a great job in clearly presenting a complicated area and has made it much clearer to me what is entailed for implementing the new procedure with clients. You definitely need to participate in this webinar if you have any clients affected by the new changes in ASU 2016-14."

DAWN ANDERSON (Campbell Rappold & Yurasits LLP)

"The knowledge of the presenter was excellent, his presentation skills were also excellent. He taught in a manner so that everyone could understand and the material that was being presented his discussion was well organized. He gave some excellent examples and explained them as well. In my opinion, this was a great 1 hour course and time well spent."
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Catherine Wong (Catherine Wong CPA)

"I specialize in the non-profit industry. This is by far the best presentation I've seen/heard. I love the handouts, because it is simple and easy to understand. I can apply it to the non-profit clients I work with and I can also share the material. Thank you for a great presentation on a pretty dry topic!"
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Loretta Campbell (Loretta Campbell EA)

"Excellent class for accountants working for or auditing NFPs. Good comparisons between old requirements for reporting and new ones without just relying on the pronouncements. Spoke clearly and did not dash through presentation at any time. Took plenty of participant questions."

Robert King (University of Iowa Center for Advancement)

"Excellent presentation. I would recommend that all development staff, especially frontline fundraisers, should view this in preparation for a training session with your finance group about how ASU 2016-14 impacts our discussions with donors and prospective donors."

Bob Stephanak (R.W. Stephanak CPA)

"Excellent presentation. The presenter boiled the requirements of the ASU down to the essentials and provided great examples for implementation. The webinar and provided slides will definitely help me deal with the new requirements."
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Gary Radovsky (GRCPA PC)

"The presentation was really informative and useful. It was well organized and executed. Alexander left me with ideas for leveraging learning outcomes. I would recommend this training to other accountants and users of NFP financials"
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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Alexander Buchholz is a partner at PKF O’Connor Davies with over 15 years of public accounting experience, including a “Big Four” accounting firm.

Alex is responsible for developing the audit approach, supervision of staff, and establishing and maintaining the engagement budget. Additionally, he is responsible for coordinating staff and management so that the audit is performed on a timely basis with as little intrusion to client operations as possible.

His expertise is in single audits, internal control/compliance audits, and specialized cost reporting. His industry experience is in healthcare and non-profit entities, including skilled nursing facilities, social service agencies, charter schools, diagnostic and treatment centers, home care service entities, adult homes and other long-term care facilities, special needs entities, and cemeteries.

Alex is also an adjunct professor at Brooklyn College of the City University of New York. He teaches undergraduate and graduate courses in accounting and auditing. He also teaches at the School of Professional Studies of the City University of New York for the Online Business Management Department, Mercy College, and Lehman College.

He conducts internal training seminars for the firm and frequently speaks at outside organizations and associations. He is a former member of the firm’s continuing professional education (CPE) committee, emphasizing single audit training. Alex has written many articles on accounting and auditing topics for a variety of professional publications.

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