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The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association’s website, educational materials, products, and services. The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association’s Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately. 

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Thursday

The workshop will start with determining which GAAP to apply (exchange, contribution, other), timing and amounts of revenue recognition, and classification as unrestricted or donor-restricted for contributions and timing and amounts of release of restriction. This session will walk through multiple case studies in applying GAAP to various funding arrangements.



Objectives:
  • Identify the accounting treatment for various funding arrangements.
  • Recognize how to consider the type of contribution received.
Thursday

In this workshop we will explore complex contribution accounting topics including Split Interest Agreements, Trusts, and Donor Advised Funds. We will discuss the complexities and calculations required for these agreements and the accounting and ongoing tracking required.



Objectives:
  • Assess complex contribution situations
  • Evaluate how to account for complex donor agreements
01:40pm - 02:55pm EDT - June 13, 2022

Monday
01:40pm - 02:55pm EDT - June 13, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

Learn how, with a little extra planning and preparation, you can avoid common errors that not-for-profits make in their financial statements. In this session, we will explore some of the most common, material errors encountered in not-for-profit financial statements and what you can do to avoid those common errors.



Objectives:
  • Identify the most common errors found in not-for-profit financial statements
  • Determine the impact errors could have on not-for-profit financial statements
03:10pm - 04:00pm EDT - June 13, 2022

Monday
03:10pm - 04:00pm EDT - June 13, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 50

This session will provide an overview of the new lease accounting standard. It will describe the new requirements of the standard as well as practical expedients that exist. A deeper dive into lease accounting will be available in a second session, Leases deep dive.



Objectives:
  • Identify and discuss the key requirements of the new lease accounting standard.
  • Recognize the impact of the new lease accounting standard.
04:30pm - 05:45pm EDT - June 13, 2022

Monday
04:30pm - 05:45pm EDT - June 13, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

With the issuance of FASB ASU 2020-07, there is an increased focus on the reporting of in-kind contributions. This session will focus on the accounting and valuation concepts surrounding in-kind contributions, so you can ensure that your organization has properly reported these sometimes complicated contributions properly.



Objectives:
  • Identify situations requiring in-kind contributions be reported
  • Analyze in-kind contributions properly
  • Determine the accounting treatment for in-kind contributions.
  • Analyze to ensure proper disclosures are included
09:30am - 10:20am EDT - June 14, 2022

Tuesday

What are this year's key considerations when preparing for your organization's annual financial statement audit? Carole and Jennifer will provide accounting and auditor perspectives to help ensure your organization has a smooth and painless audit.



Objectives:
  • Determine best practices for preparing for an annual audit
  • Analyze key considerations when accounting for revenue recognition and updated in-kind contributions guidance
  • Identify policies and procedures that should be implemented or revisited
10:35am - 11:50am EDT - June 14, 2022

Tuesday
10:35am - 11:50am EDT - June 14, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

Leveraging off the Leases Overview session, this session will dive deeper into the new lease session going through examples of what does and doesn’t qualify under the new lease definition as well as learning how to record the journal entries and other implementation concerns.



Objectives:
  • Identify and discuss how do identify a new lease.
  • Analyze and discuss how to record the accounting entries under the new lease accounting standard.
Tuesday
10:35am - 11:50am EDT - June 14, 2022 | Room: National Harbor 2&3
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

This session will address the recent audit report changes from SAS 134, including new concepts such as KAMs, and how to avoid common errors. We will also highlight challenges around when to modify the audit report or include emphasis or other matter paragraphs.



Objectives:
  • Analyze the new audit reporting requirements from SAS 134.
  • Identify when to modify the auditor's report.
  • Determine when to include an emphasis or other matter paragraph.
01:05pm - 02:20pm EDT - June 14, 2022

Tuesday
01:05pm - 02:20pm EDT - June 14, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

This session will introduce attendees to the current activities of the Auditing Standards Board, including a discussion on the recently effectuated standards and how they will impact planned audit procedures and reporting practices.



Objectives:
  • Identify the current activities of the Auditing Standards Board
  • Determine how the new standards will impact current audit procedures and reporting practices
Tuesday
01:05pm - 02:20pm EDT - June 14, 2022 | Room: National Harbor 2&3
Track: Accounting & Audit, Tax
Tags: A and A TAX
Total Minutes: 75

If you've ever struggled with what expenses go into what classification of functional expense, you're not alone. This session will breakdown the nuances of each functional expense category, discuss best practices for the Form 990 and financial statement reporting, and allow you to walk away with a more clear understanding of this schedule.



Objectives:
  • Identify best practices for allocation of expenses in the Form 990 and Financial Statements
  • Analyze the details and nuances of Program, MG&A and Fundraising expense activity.
02:35pm - 03:50pm EDT - June 14, 2022

Tuesday
02:35pm - 03:50pm EDT - June 14, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

In this session the speakers will discuss current industry, regulatory and economic developments affecting not for profit organizations that will be important for both auditors and preparers for the upcoming year. We will discuss the latest not for profit accounting and auditing trends and developments and those that are on the horizon.



Objectives:
  • Identify industry, regulatory, and economic developments affecting Not-for-Profit Organizations
  • Determine the audit issues impacting this year's engagments
04:20pm - 05:35pm EDT - June 14, 2022

Tuesday

This session will review the contribution and contract revenue recognition accounting standard for nonprofit organizations under ASU 2018-08. We will review lessons learned, common mistakes and items missed with various examples during the session.



Objectives:
  • Identify lessons learned and common mistakes in accounting for transactions under ASU 2018-08.
  • Analyze how to effectively audit contributions received and contributions made under topic 958 and key audit procedures.
Tuesday
04:20pm - 05:35pm EDT - June 14, 2022 | Room: Potomac D
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

How do you ensure your organization’s controls are solid? Join industry experts as they walkthrough typical internal controls for small and medium sized organizations, and learn takeaways you can implement in your NFP organization.



Objectives:
  • Identify the purpose and importance of internal controls within an NFP.
  • Distinguish common controls for small/medium not-for-profits.
  • Determine how to identify risks in an NFP organization.
10:45am - 12:00pm EDT - June 15, 2022

Wednesday

THIS SESSION NEEDS TO FOcUS ON WHAT NOT TO DO. WE HAVE A SEPARATE SESSION ON EFFECTIVE INTERNAL CONTROLS. THIS SESSION SHOULD BE WHAT/WHY WAS NOT EFFECTIVE. Fraud discussed will include check fraud, spoofing, accounts payable, falsifying contractor invoices, imprest petty cash checking accounts and more. In this session we will explore the loopholes that were exploited and offer insight on how smaller nonprofits can avoid or mitigate these unfortunate events.



Objectives:
  • Identify the ever changing risk environment and learn to recognize common frauds
  • Analyze fraud prevention and detection procedures that may be applicable to smaller organizations
  • Determine areas for employee and management training to identify potential fraud early
Wednesday
10:45am - 12:00pm EDT - June 15, 2022 | Room: National Harbor 4&5
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

This session will provide an overview of revenue recognition specific issues and provider relief specific issues for healthcare entities.



Objectives:
  • Identify and discuss issues pertaining to the new revenue recognition model and reporting for healthcare entities.
  • Determine and discuss accounting and reporting for receipts from the Provider Relief Fund.
  • Analyze and discuss other impacts of the pandemic in consideration of healthcare entities recognition of revenue.
01:15pm - 02:30pm EDT - June 15, 2022

Wednesday
01:15pm - 02:30pm EDT - June 15, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

Auditing remotely is quickly becoming the new normal. Join this session for practical considerations when conducting your audits remotely. From evaluating internal controls and identifying fraud risks to observing inventory counts and considering the authenticity of client records, we've got you covered.



Objectives:
  • Compare key differences between conducting audits onsite and remotely
  • Analyze how auditing remotely affects audit planning
  • Choose the best practices for addressing high risk audit areas when auditing remotely
Wednesday
01:15pm - 02:30pm EDT - June 15, 2022 | Room: National Harbor 2&3
Track: Accounting & Audit, Tax
Tags: A and A TAX
Total Minutes: 75

While Form 990 generally follows financial statement reporting, Form 990, Part IX requires more detailed reporting . It is also an area that potential donors may look at to draw conclusions about how well the organization accomplishes its mission. Differences between the financial statement functional and Part IX of the Form 990 may need to be explained to Board member and to readers of the Form 990. This session will explore the GAAP vs. Form 990 functional reporting beyond just donated services and investment expenses, and offer practical tips on financial statement and Form 990 reporting to help the organization "put its best foot forward" on expense reporting.



Objectives:
  • Compare the differences between GAAP and Form 990, Part IX reporting of expenses.
  • Analyze practical tips for preparing a proper financial statement and Form 990 functional expense statement.
02:45pm - 03:35pm EDT - June 15, 2022

Wednesday
02:45pm - 03:35pm EDT - June 15, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 50

The effective date of the Current Expected Credit Loss (CECL) FASB guidance is approaching. Join us for a session to discuss upcoming changes as a result of this standard, including considerations that nonprofit organizations should evaluate in advance of the adoption date.



Objectives:
  • Analyze changes that will occur as a result of upcoming CECL accounting standard updates
  • Identify how upcoming CECL accounting standard updates may impact not-for-profit organizations
  • Determine considerations not-for-profit organizations should evaluate in advance of the adoption date of this guidance
Wednesday
02:45pm - 03:35pm EDT - June 15, 2022 | Room: National Harbor 2&3
Track: Accounting & Audit
Tags: A and A
Total Minutes: 50



According to the 2018 ACFE Report to Nations, two out of the top three categories of occupational fraud are asset misappropriation and financial statement fraud. Throughout the past decade, CAATs have been discussed and broadly used, but what about the next wave of auditing tools? Is your firm embracing AI as the next powerful solution? In this session you will learn:

  • What embracing AI can do to enhance your assurance process and results
  • Best practices in the planning and implementation process when embracing AI
  • A case study – how AI detected fraudulent transactions before the client alerted the team


Objectives:
  • Determine how data analytics tools and resources that may be leveraged in the current audit cycle
  • Identify ways to leverage data insights to inform work on those things that matter most
03:50pm - 05:05pm EDT - June 15, 2022

Wednesday
03:50pm - 05:05pm EDT - June 15, 2022 | Room: Potomac A
Track: Accounting & Audit
Tags: A and A
Total Minutes: 75

Ask questions to the A&A experts! Our experts will address any questions you may have and discuss technical issues that have surfaced over the past few years.



Objectives:
  • Apply lessons learned from issues faced by others in practice.
  • Determine best practices and practical applications in applying new standards.