2020…what a year it has been, with the impact of COVID-19 being at the forefront! This panel discussion will focus on the various types of impacts and challenges that COVID-19 has presented for governmental entities and not-for-profit organizations – lost revenue, increased expenses, new types of federal grant compliance, payroll tax issues, PPP loans, financial reporting, etc. While the impact of COVID-19 will make its way into many of the conference sessions, this opening panel will facilitate an interactive discussion on the nature of risks, challenges and opportunities, including the opportunity for participants to ask questions and submit examples.
1. Identify the challenges, best practices and updates impacting the government and not-for-profit industries as a result of the COVID-19 pandemic.
2. Distinguish COVID-related financial reporting considerations, as well as FASB, GASB and Uniform Guidance updates that will impact your government/organization.