Preparers, do you have a detailed plan to implement the new not-for-profit financial reporting standards? And auditors, are you and your not-for-profit clients ready? Industry experts will walk through the conversion of a not-for-profit’s financial statements and notes to ensure an efficient and effective implementation of FASB ASU 2016-14. You will learn how to overcome the most difficult challenges stemming from this new standard, through sample policies, examples of various board-designation actions, tips on liquidity management, and some expense allocation methodologies that will help not-for-profits satisfy the new requirements. The presentation will include a detailed implementation tool you can use either in your own entity or to assist your clients.
Identify the most significant and complex challenges in adopting FASB’s new financial statement standard.
Determine policies, procedures, and systems that should be in place as a result of the standard.
Identify implementation techniques that could assist in converting a not-for-profit’s financial statements and footnotes to the new standard.