On April 22, 2015, the Financial Accounting Standards Board (FASB) issued exposure draft “Presentation of Financial Statements of Not-for-Profit Entities.” This exposure draft contains the most robust changes in the world of not-for-profit accounting and financial reporting in the last 40 years. The FASB is hoping to: refresh the not-for-profit financial reporting model, address the volume and effectiveness of required disclosures, and increase comparability among not-for-profits. Do you understand how these changes will impact your daily accounting; year-end reporting; and how should you be responding to the exposure draft and preparing for its implementation? This webinar will show participants how these changes will impact your financial reporting and daily accounting.
At the end of this workshop, participants will be able to:
Educational level: Introductory Instructional Method: Lecture with question and answer period
Richard Lynch, CPA, Sikich and Teri Taylor, CPA, Sikich
Richard Lynch is an accounting and tax partner at Sikich and has more than 14 years of experience in public accounting and not-for-profit organizations. Mr. Lynch has extensive experience providing audit, tax, accounting and management consulting services to a wide variety of not-for-profit clients, including higher education, social service agencies, private foundations, health and welfare organizations, religious organizations, political action committees, civic and community organizations and trade associations. He also serves clients in the government, health care and financial industries.
Teri L. Taylor, CPA, is a manger on the not-for-profit and higher education practice team of Sikich. Teri has over 10 years of experience serving the needs of not-for-profit and governmental entities. She is responsible for audit engagement planning, supervision of fieldwork, and report preparation for a variety of not-for-profit clients including associations, civic and community organizations, colleges, voluntary health and welfare organizations and governmental entities. Teri also has extensive experience auditing federal award programs in accordance with the OMB Circular A-133.