After some brief introductory remarks from the two presenters, the focus of this session will be on having a real-world discussion regarding how nonprofits and practitioners can best address the §512(a)(7) parking tax, including keeping a “big picture” perspective, strategies for calculating “parking expenses”, the importance of contemporaneous documentation and the consequences of non-compliance. Attendees should come armed with all their questions regarding the §512(a)(7) parking tax since there will be ample opportunity throughout the session to ask those questions.

Learning Objectives:

1. Learn about the applicability of the §512(a)(7) parking tax to nonprofit organizations.
   
2. Receive practical guidance and tips (and become aware of traps for the unwary) so that your nonprofit organization can best be compliant with §512(a)(7) of the Internal Revenue Code.
   
3. Ask any §512(a)(7) questions which you have during this very interactive (non-lecture style) session.

Businesses and Governments process a high-volume of transactions everyday. Learn how artificial intelligence and machine learning can help you discover data anomalies in data to reduce fraud and increase efficiencies in management. We will walk you through a real life example of how artificial intelligence assisted an entity in discovering improper payments and procurements with 90% less effort than manually reviewing such transactions. Leveraging available technology can dramatically improve results with greater efficiency.

Learning Objectives:

1. Gain an understanding of how pervasive fraud is in our government environments.
   
2. Become aware of the AI and Machine learning techniques that are becoming part of our everyday lives.
   
3. Learn how Machine Learning can be used to identify fraud.

Through the sharing and discussion of examples, the session will provide implementation tips and best practices learned when implementing ASU 2016-14, Presentation of Financial Statements of NFP Entities.

Learning Objectives: 

1. Identify the implementation challenges resulting from the financial reporting standard.
   
2. Determine best practices organizations can employ with adoption of the new standard.

Review and analysis of real-life nonprofit scenarios and situations by two experienced nonprofit practitioners in an attempt to determine whether reporting UBI is required.

Learning Objectives:

1. Learn about the types of revenue which are commonly classified as unrelated business income.
   
2. Learn about the most common exclusions/excsptions which a nonprofit can take advantage of to avoid the impoisition of the unrelated business income tax.
   
3. Receive answers to your most pressing UBI questions.

This session will provide an update on the latest auditing standards board standard-setting activities including the proposed new auditor's report model, new projects on risk assessment and estimates, and audit evidence with a particular focus on the impact of new technologies such as blockchain, and data analytic techniques.

Learning Objectives:

1. Identify the main provisions of the proposed model for the auditor's report.
   
2. Analyze ASB's projects on risk assessment and estimates.
   
3. Identify the impact of new technologies on audit evidence, including Blockchain and Data analytic techniques.

Sampling concepts learned in Session 17 will be expanded to real life situations auditors may encounter on a single audit. This session will include several different case studies to provide examples on how to apply sampling concepts and work through difficult and challenging issues when sampling in a single audit.

Learning Objectives:

1. Determine auditor considerations related to population completeness, calculations of sample sizes, and risk.
   
2. Identify when sampling may not be appropriate for a population in a single audit.

Statement 87 addressing Leases takes effect in 2020. The new guidance changes the recognition and measurement model used for reporting lease liabilities by both lessees and lessors. This session will go through the basic requirements in Statement 87 to help prepare you for implementation.

Learning Objectives:

1. Recall requirements in GASB 87.
   
2. Identify arrangements that are considered leases.
   
3. Estimate the length of a lease for financial reporting purposes.
   
4. Recognize factors in the measurement of lease for both lessees and lessors.

Endowments are one of the most complicated aspects of not-for-profit accounting. The complexity and specific details of each donor’s agreement could impact the accounting and financial reporting within your organization. This session will focus on examples of various types of endowment gifts and agreements, including the accounting, income allocation, spending policies and financial reporting requirements. Topics will also include underwater endowment accounting, term endowments and pooled endowment funds, among others.

Learning Objectives:

1. Identify the different types of endowment gifts.
   
2. Analyze specific scenarios with respect to underwater endowments
   
3. Determine proper financial reporting for endowments.

This session provides an update of changes in governmental and U.S. auditing standards including the revised Yellow Book. Session will share a comparison of the 2011 Yellow Book and the 2018 Yellow Book. We will also discuss the possible implementation issues, challenges, and easy to-dos when implementing these new standards.

Learning Objectives:

1. Recall the new Yellow Book standards.
   
2. Identify changes introduced in the 2018 Yellow Book.
   
3. Recognize effective dates and timing for changes identified.

This session will focus on the internal control requirements of the Uniform Guidance.

Learning objectives:

1. Recognize the requirements of UG related to understanding and documenting.
2. Internal controls over compliance.
   
3. Recall the attributes of the COSO model.
   
4. Establish the fundamental understanding with a step by step approach to documenting internal controls in a single audit.
   
5. Review the new Compliance Supplement Part VI.
   
6. Identify the typical types of controls noted in most single audits.