GASB Update: What's Happening Now and What's on the Horizon? - Part 1

Oct 20, 2020 2:40pm ‐ Oct 20, 2020 3:30pm

Identification: GOV2027

Need a refresher on some of the new standards?  Don't want to miss some of the more recent developments at GASB?  This session will feature an in-depth look at both currently issued standards as well as projects currently underway at various stages on GASB's agenda.

Learning Objectives:
  • Identify recent activities at GASB
  • Recall key points related to newly-issued standards as well as projects underway at GASB
  • Apply the most recent GASB requirements to governments

Form 990 Traps for the Unwary - Part 1

Oct 20, 2020 2:40pm ‐ Oct 20, 2020 3:30pm

Identification: GOV2028

This session will identify some of the more prominent Form 990 blind spots and traps for the unwary that preparers/reviewers of the Form 990 need to be keenly aware of.
Learning Objectives:
  • Identify any recent changes to the Form 990 as compared to previous years.
  • Recognize some of the potential "red-flags" on the Form 990.
  • Indicate how to best avoid Form 990 reporting "traps"

Single Audit Sampling: How Many Can I Test? - Part 1

Oct 20, 2020 2:40pm ‐ Oct 20, 2020 3:30pm

Identification: GOV2029

Sampling in a single audit can be complicated. This session will offer a review of single audit sampling basics, both from a compliance and controls perspective. Examples will demonstrate how the mixture of facts, decisions and auditor judgments all impact sampling.
Learning Objectives:
  • Recall sampling considerations in a single audit.
  • Identify key underlying concepts to select a proper sample.

GASB Update: What's Happening Now and What's on the Horizon? - Part 2

Oct 20, 2020 3:40pm ‐ Oct 20, 2020 4:30pm

Identification: GOV2030

Need a refresher on some of the new standards?  Don't want to miss some of the more recent developments at GASB?  This session will feature an in-depth look at both currently issued standards as well as projects currently underway at various stages on GASB's agenda.

Learning Objectives:
  • Identify recent activities at GASB
  • Recall key points related to newly-issued standards as well as projects underway at GASB
  • Identify the most recent GASB requirements to governments

Form 990 Traps for the Unwary - Part 2

Oct 20, 2020 3:40pm ‐ Oct 20, 2020 4:30pm

Identification: GOV2031

This session will identify some of the more prominent Form 990 blind spots and traps for the unwary that preparers/reviewers of the Form 990 need to be keenly aware of.
Learning Objectives:
  • Identify any recent changes to the Form 990 as compared to previous years.
  • Recognize some of the potential "red-flags" on the Form 990.
  • Indicate how to best avoid Form 990 reporting "traps"

Single Audit Sampling: How Many Can I Test? - Part 2

Oct 20, 2020 3:40pm ‐ Oct 20, 2020 4:30pm

Identification: GOV2032

Sampling in a single audit can be complicated. This session will offer a review of single audit sampling basics, both from a compliance and controls perspective. Examples will demonstrate how the mixture of facts, decisions and auditor judgments all impact sampling.
Learning Objectives:
  • Recall sampling considerations in a single audit.
  • Identify key underlying concepts to select a proper sample.

Revenue & Expense Recognition - What's Ahead? - Part 1

Oct 21, 2020 9:00am ‐ Oct 21, 2020 9:50am

Identification: GOV2033

This session will dive into the Revenue and Expense Recognition Preliminary Views document. We'll discuss why the GASB has determined that there's a need to develop a comprehensive revenue and expense recognition model and describe some of the key provisions proposed in the document.

Learning Objectives:
  • Determine the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
  • Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
  • Distinguish how certain common transactions would be analyzed under the preliminary model.

Navigating Revenue Recognition for NFPs - Part 1

Oct 21, 2020 9:00am ‐ Oct 21, 2020 9:50am

Identification: GOV2034

In this session, the presenters will take participants through examples of revenue streams common to not-for-profit organizations and discuss the impact ASC 606 (Revenue Recognition) had on the presentation and disclosure.  The presenters will share best practice examples of presentation and disclosures and take participants through  "tales from the trails" from organizations who have adopted the standard.  They will also walk through the difference between an exchange transaction and a contribution and share and discuss examples of barriers and right of return provisions that are common in gift/grant agreements.
Learning Objectives:
  • Identify the impact ASC 606 has on key revenue streams of not-for-profit organizations
  • Determine the impact of ASU 2018-08 and the differences between exchange transactions and contributions
  • Walk through example grant and gift agreement language, identifying key terminology and interpretations in light of ASC 606 and ASU 2018-08

Sampling Case Studies: How Do I Apply the Facts, Decisions and Judgments? - Part 1

Oct 21, 2020 9:00am ‐ Oct 21, 2020 9:50am

Identification: GOV2035

Sampling concepts learned in the prior single audit sampling session 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 requiring significant auditor judgment when sampling in a single audit.
Learning Objectives:
  • Determine auditor considerations related to population completeness, calculations of sample sizes, and risk.
  • Identify when sampling may not be appropriate for a population in a single audit.

Revenue & Expense Recognition - What's Ahead? - Part 2

Oct 21, 2020 10:00am ‐ Oct 21, 2020 10:50am

Identification: GOV2036

This session will dive into the Revenue and Expense Recognition Preliminary Views document. We'll discuss why the GASB has determined that there's a need to develop a comprehensive revenue and expense recognition model and describe some of the key provisions proposed in the document.

Learning Objectives:
  • Recognize the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
  • Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
  • Identify how certain common transactions would be analyzed under the preliminary model.