AICPA Not-for-Profit Industry Conference 2021

Jun 7, 2021 ‐ Jun 9, 2021

Introduction to Contribution and Grant Accounting

Preview Available

Introduction to Contribution and Grant Accounting

Jun 2, 2021 10:00am ‐ Jun 2, 2021 11:40am

Identification: NOT21101

Operation Prerequisites: 1-2 Years in the Profession

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 100

Operation Credits: 2

Operation Credit Type: Accounting

Operation Level: Basic

Operation Advanced Prep: None

This session will review the contribution revenue accounting standard for nonprofit organizations under topic 958-605, including the recent clarified guidance in ASU 2018-08.  This will be a primer on contribution and grant accounting. We will also review how to effectively audit contribution transactions and discuss key audit procedures.

Learning Objectives:

• Understand accounting for nonreciprocal transactions accounted for under topic 958-605
• Understand how to effectively audit contribution transaction and key audit procedures

Speaker(s):

• Kelly Rancourt, CPA, Principal, Clark Nuber
• Hediyeh Sadeghein, CPA, Audit Manager, Johnson Lambert

Beyond Budgets: Enhanced Budgeting & Forecasting for the Modern CPA

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Beyond Budgets: Enhanced Budgeting & Forecasting for the Modern CPA

Jun 2, 2021 10:00am ‐ Jun 2, 2021 11:40am

Identification: NOT21102

Operation Prerequisites: 3-5 Years in the Profession

Operation Minutes: 100

Operation Credits: 2

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Advanced Prep: None

These uncertain times have made financial forecasting harder than ever.  This session will empower nonprofits to develop nimble budgets, plan for times of uncertainty and enhance communications to tell their story in the foggy future. Focusing on practical tools and techniques available to improve the budgeting and forecasting process, we will discuss how to involve a cross-functional team in the process, including programmatic and fundraising staff . This session will also touch upon predictive analytics, forecasting, modeling, and scenario planning that goes beyond historical information like basic "budget vs actuals".

Learning Objectives:

• Identify an inclusive financial planning process during time of uncertainty.
• Select practical tools that fit your organizations needs for tracking and sharing financial information.

Speaker(s):

• Gina McDonald, CPA, Lead Consultant, BDO FMA
• Lisa Stover, CPA, CGMA, CAE, Principal, CLA

Advanced Level Contributions Do's and Don'ts

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Advanced Level Contributions Do's and Don'ts

Jun 2, 2021 12:00pm ‐ Jun 2, 2021 1:40pm

Identification: NOT21103

Operation Prerequisites: 6-10+ years in the profession

Operation Minutes: 100

Operation Credits: 2

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Credit Type: Accounting

Operation Level: Advanced

Operation Advanced Prep: None

In this session we will explore complex contribution accounting topics including Split Interest Agreements, Planned Giving, and Endowment. We will discuss the does and don't of the planned ask from donors and the impacts on the ultimate accounting.

Learning Objectives:

• Identify complex contribution situations
• Account for complex contribution situations

Speaker(s):

• Pete Ugo, CPA, Partner, Crowe LLP
• Cathy J. Clarke, CPA, Chief Quality Officer, CLA

Nonprofit Organizations: Mergers, Acquisitions & Strategic Realignment

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Nonprofit Organizations: Mergers, Acquisitions & Strategic Realignment

Jun 2, 2021 12:00pm ‐ Jun 2, 2021 1:40pm

Identification: NOT21104

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 100

Operation Credits: 2

Operation Prerequisites: 3-5 Years in the Profession

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Advanced Prep: None

Mergers, acquisitions and more specifically, strategic partnerships are taking place in a challenging nonprofit landscape with increasing frequency. This is a result of myriad pressures facing nonprofits as a result of a pandemic that continues to impact the global economy. Such challenges leading to the need for partnerships include but not limited to liquidity and resource challenges, operational efficiency, sustainability and resiliency and ultimately achievement of mission and impact.

As we examine the options available to nonprofit organizations, there are three critical pillars of a successful strategic partnership to focus on: synergy, resources and culture. When considering a form of a strategic partnership, it is important that organizations evaluate and ask themselves the following:

• What synergies can we create with existing operations that would have the greatest impact?
• Would the partnership create the resources, infrastructure, experience, and capacity necessary to succeed?
• What important cultural and mission centric balance is needed in order to thrive?

Learning Objectives:

• Identify good practices for a successful merger, acquisition or strategic alignment.
• Determine the advantages and disadvantages of mergers and acquisitions.
• Assess the financial feasibility of a merger or acquisition.

Speaker(s):

• Adam B. Cole, CPA, CGMA, Co-leader, National managing partner, Nonprofit & Education Industry practice, BDO USA, LLP
• Laurie A. De Armond, CPA, Managing Partner, BDO Institute for Nonprofit Excellence, BDO USA, LLP
• Matthew Becker, Audit DIrector, BDO USA, LLP

Yellow Book 101: Deep Dive into the 2018 Revisions

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Yellow Book 101: Deep Dive into the 2018 Revisions

Jun 2, 2021 2:00pm ‐ Jun 2, 2021 3:40pm

Identification: NOT21105

Operation Prerequisites: 1-2 Years in the Profession

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 100

Operation Credits: 2

Operation Credit Type: Auditing (Governmental)

Operation Level: Update

Operation Advanced Prep: None

This workshop is designed to identify and provide a in-depth understanding of the key changes made to GAS when implementing the 2018 Revision.

Learning Objectives:

• Understand key changes made to the 2018 Revision of GAS.
• Analyze key changes in the performance of audit and attest engagement in accordance with the 2018 Revision of GAS.

Speaker(s):

• Brian A. Schebler, CPA, Managing Director, RSM US LLP
• Andrea Wilson, BDO USA

Key Tax Issues for Nonprofits During Initial Years of Operation

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Key Tax Issues for Nonprofits During Initial Years of Operation

Jun 2, 2021 2:00pm ‐ Jun 2, 2021 3:40pm

Identification: NOT21106

Operation Prerequisites: 1-2 Years in the Profession

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 100

Operation Credits: 2

Operation Credit Type: Taxes

Operation Level: Basic

Operation Advanced Prep: None

We will discuss key tax issues affecting nonprofits during their initial years of operations. We'll look at the tax exemption process for various types of entities (501(c)(3)s, small and large; 501(c)(4)s; and other nonprofits) and answer FAQs regarding the first years of operations (retroactive exemption, filing returns before determination letter, determination process, etc.). The workshop will also address organizations using IRS Forms 1023 and 1024 applications to receive exemption and organizations that self-declare.

Learning Objectives:

• Understand the tax exemption process for various types of entities.
• Explore issues that arise with a nonprofit's first year of operation.

Speaker(s):

• Emily Chan, J.D., Of Counsel, Adler & Colvin
• Christopher B. Anderson, CPA, Shareholder, Maloney + Novotny LLC

Compliance Fundamentals: GAAS, GAGAS, UG...How it All Fits Together!

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Compliance Fundamentals: GAAS, GAGAS, UG...How it All Fits Together!

Jun 2, 2021 4:00pm ‐ Jun 2, 2021 5:40pm

Identification: NOT21107

Operation Prerequisites: 1-2 Years in the Profession

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 100

Operation Credits: 2

Operation Credit Type: Auditing (Governmental)

Operation Level: Basic

Operation Advanced Prep: None

This fundamentals workshop provides a background on the audit standards and regulations used in a compliance audit and how those work together.  Standards and regulations to be covered include AICPA audit standards, Government Auditing Standards and the Uniform Guidance.  This workshop is intended to be an introductory course for those new to compliance audits.

Learning Objectives:

• Understand the standards and regulations used in a compliance audit.
• Recognize how each standard is used in a compliance audit.

Speaker(s):

• Stephen W. Blann, CPA, CGFM, CGMA, Owner | Public Sector QC Director, Rehmann
• Lindsey Oakley, CPA, Partner, BKD, LLP

Board Governance and Liability

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Board Governance and Liability

Jun 2, 2021 4:00pm ‐ Jun 2, 2021 5:40pm

Identification: NOT21108

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Minutes: 100

Operation Credits: 2

Tax-exempt organizations face continuous pressure from government agencies, watchdog groups, funders, and constituents, and COVID-19 has increased the level of questions and scrutiny that has arisen. This session examines important issues to be aware of, as well as recommended policies and practices to minimize liability. The ability to research and perform effective benchmarking will also be explored.

Learning Objective:

• Identify best practices to minimize liability and important board governance issues to be aware of; 2) Understand how to research and perform effective benchmarking.

Speaker(s):

• Alexander L. Reid, J.D., LL.M. (Taxation), Partner, Morgan Lewis & Bockius LLP
• Marcus S. Owens
• J. Calvin Marks, CPA, EA, Johnson Lambert

Leading & Managing in an Era of Disruptive Demographics and "Certain-Uncertainty"

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Leading & Managing in an Era of Disruptive Demographics and "Certain-Uncertainty"

Jun 7, 2021 9:40am ‐ Jun 7, 2021 10:30am

Identification: NOT2101

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Sale: 1

Operation Archive: 1

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Disruptive demographics are dramatically transforming all of nation’s social, economic, and political institutions. At the same time, the COVID-19 pandemic and the nation-wide protests spawned by the recent spate of senseless killing of unarmed Blacks have illuminated what executive development professionals have been telling private and public sector leaders and /managers for quite some time. We are living in an era of increasing volatility, uncertainty, complexity, and ambiguity—a VUCA World. “Certain-uncertainty” is the new normal in today’s society and economy, which requires new leadership capabilities and managerial competencies to properly respond to our nation’s changing demographics and weather the current and future crises we almost sure to face. Join us for an illuminating discussion of the six disruptive demographic trends that will change America forever and the “new” leadership toolkit required to manage turbulence and uncertainty.

Learning Objectives:

• Learn how our nation’s shifting demography will shape our future
• Hear and learn about the tools and skills will you need to weather the turbulence, an uncertainty we are almost sure to face in the future

Keynote(s):

• James H. Johnson, Ph.D, William Rand Kenan, Jr. Distinguished Professor, Kenan-Flagler Business School, University of North Carolina at Chapel Hill

GAAP Update

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GAAP Update

Jun 7, 2021 10:45am ‐ Jun 7, 2021 12:25pm

Identification: NOT2102

Operation Prerequisites: 3-5 Years in the Profession

Operation Minutes: 100

Operation Credits: 2

Operation Alertness Issued: 8

Operation Alertness Required: 6

Operation Sale: 0

Operation Archive: 1

Operation Credit Type: Accounting

Operation Level: Intermediate

Operation Advanced Prep: None

In this session, we’ll discuss developments in US GAAP that are important for NFPs. We’ll focus especially on the FASB’s new standard (ASU 2020-07) on reporting of gifts-in-kind (contributed nonfinancial assets), which is effective for FY 2022. We’ll also discuss: implementation matters on grants and contracts (ASU 2018-08, especially COVID-19-related government assistance), leases, credit losses, and other recent standards; FASB projects-in-process (e.g., on Goodwill); and the efforts underway by the FASB to set its future agenda, including an Invitation to Comment expected to be issued in June 2021. Finally, we’ll briefly introduce you to an important initiative in which the FASB’s staff is participating, IFR4NPO, which is of significant interest to NFPs that are operating or making grants internationally.

Learning Objectives:

• Describe the requirements of key recent standards (ASUs) affecting NFPs (especially ASU 2020-07).
• Identify and discuss, at a general level, the key areas of judgment in applying GAAP (especially ASU 2018-08) to COVID-19-related government assistance.
• Identify and describe, at a general level, the key implementation issues that have been or are being addressed by the FASB concerning major recent standards (especially Leases).
• Describe, at a general level, the current status of noteworthy current FASB projects (especially Goodwill and Intangibles), as well as the areas of focus in the FASB's Invitation to Comment regarding its Future Agenda.
• Describe, at a general level, the aims of the IFR4NPO initiative and how it would benefit certain NFPs.

Speaker(s):

• Jeffrey D. Mechanick, CPA, CGMA, Assistant Director, Financial Accounting Standards Board
• Christine A. Botosan, PhD, CVA, CPA (Canada), Board Member, Financial Accounting Standards Board