Teleconference: Not-for-Profit Accounting, Auditing, & Tax Update (CPN06M18)
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The Tax Cuts and Jobs Act did not spare the not-for-profit sector: new excise taxes; new UBTI rules; and other changes will significantly impact nonprofits, along with the issuance of several ASUs. Our panel of experts will provide you with what you need to know about the latest and most important GAAP and tax developments affecting nonprofit organizations.

 Export to Your Calendar 6/27/2018
When: June 27, 2018
9:00 AM until 5:00 PM
Where: University of Louisiana at Monroe
700 University Ave
University Library, ULIB 106
Monroe, Louisiana 
United States
Presenter: Panel


Online registration is available until: 6/27/2018
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Acronym CPN06M18
CPE 8 hours
Vendor ACPEN
Category
Gov't/Nonprofit
Level Update
Prerequisite None
Adv Prep None
Yellow Book? Yes
Registration Early Bird
(through 6/12)
Standard
(after 6/12)
Member $215 $265
CPA Non-Member $315 $365

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

Course Description

The Tax Cuts and Jobs Act did not spare the Not-for-Profit sector: new excise taxes; new UBTI rules; changes affecting fringe benefits; changes affecting charitable contributions; changes affecting art collectors who donate to museums; changes in contribution substantiation rules; change in individual taxation affecting donations, some with positive effects and some with negative effects.

ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate with stakeholders. It is effective for fiscal years beginning after December 15, 2017 with early application permitted.

ASU 2016-14 was amended by ASU 2016-18, Restricted Cash, and ASU 2017-02, Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity. ASU 2016-18 requires that cash restricted by donors and other outsiders be combined with unrestricted cash in the statement of cash flows.

To date, IRS Form 990 and related state tax forms have not been revised to reflect the ASUs.

Our panel of experts will provide you with what you need to know about the latest and most important GAAP and tax developments affecting non-profit organizations.

Objectives

  • An overview of recently issued ASUs including: Presentation of Financial Statements of Not-for-Profit Entities, Revenue Recognition, Leases, Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, and other ASUs impacting NFP organizations
  • Discussion of other projects in the pipeline including Revenue Recognition of Grants and Contracts of NFP Entities, Balance Sheet Classification of Debt, and other projects impacting NFP organizations.

Topics

  • FASB Update
  • Auditing Update
  • Tax Update
  • Ethics Update

Designed For: Industry & Public Practice