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Governmental and Not-for-Profit Annual Update
CPE Self-study

Governmental and Not-for-Profit Annual Update

The latest GASB developments and federal audit changes affecting governments and not-for-profits (NFPs) are explored in this update overview.

$175 - $290
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Accounting

Level

Intermediate

CPE Credits

11

Author(s)

Rebecca Meyer

Availability

1 year

Product Number

GNAU25SSO

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 Business & partner 
Product Details

Change is inevitable and at times overwhelming if you are unprepared.

Ensure that you understand the recent developments in governmental and not-for-profit accounting and auditing. This update course is designed to prepare you for the latest accounting and auditing developments affecting governments and not-for-profits and give you the tools and knowledge to implement the new standards.

Understanding new standards that affect governmental and not-for-profit accounting

Recent updates to accounting and auditing standards will change how governmental and not-for-profit accounting and auditing is performed.

You’ll learn how to implement and understand recent additions, including:

  • GASB Statements
  • FASB Accounting Standards Updates
  • Auditing Standards Board Updates
  • Changes to Government Auditing Standards

Detailed scenarios to increase your comprehension

Real-world examples help increase your comprehension of how to implement the changes in your work. You’ll be empowered to properly identify when new standards should be applied.

Who Will Benefit

Accountants and finance professionals working with governments and not-for-profits

Key Topics

  • GASB update
  • Not-for-profit accounting update
  • Compensated absences
  • GASB Statement No. 102, Certain Risk Disclosures
  • FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
  • Statement on Quality Management Standards (SQMS) No. 1, 2, and 3
  • Auditing Standards Board update
  • Governmental auditing update

Learning Outcomes

  • Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
  • Identify the projects that are on the active standard-setting agenda and their objectives.
  • Identify when a liability should be recorded for compensated absences.
  • Apply the disclosure criteria related to concentrations and constraints to determine whether and how to make disclosures required under GASB Statement No. 102, Certain Risk Disclosures.
  • Identify how FASB's Accounting Standards Updates affect not-for-profit financial statements.
  • Apply FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to an example financial instrument.
  • Apply ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, to various goodwill scenarios.
  • Identify the requirements of recently issued or effective Statements on Auditing Standards (SASs).
  • Identify the requirements of Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management, SQMS No. 2, Engagement Quality Reviews, and SQMS No. 3, Amendments to QM Sections 10, A Firm’s System of Quality Management, and 20, Engagement Quality Reviews.
  • Identify recent changes to the AICPA Code of Professional Conduct that affect auditors of governments and NFPs.
  • Distinguish the provisions of the Government Auditing Standards 2024 Revision.
  • Identify Yellow Book requirements related to independence, management’s responsibilities, and reporting.
  • Identify changes to the Uniform Guidance.
Credit Info
CPE Credits
Online
11
NASBA Field of Study
Accounting, Accounting (Governmental), Auditing, Auditing (Governmental)
Level
Intermediate
Prerequisites
Basic knowledge and experience in governmental and not-for-profit accounting and auditing
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
Yellow Book Hours
11
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Nonmembers
Online
$290.00
AICPA Members
Online
$225.00
CIMA Members
Online
$225.00
NFP Section Members
Online
$175.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)

Contact us
Author(s)
Rebecca Meyer
Rebecca Meyer, CPA, CGMA, is President of RAM CPA, PLLC located in Raleigh, NC and is a seasoned CPA and management accountant with more than 22 years of technical finance and leadership expertise in various aspects of attest, accounting and compliance services. Her firm specializes in collaborating with state and local governments, nonprofit organizations, small businesses, regulators, and other CPA firms to provide high quality audit, attest, accounting, finance, and compliance services. Prior to forming her own firm, Ms. Meyer worked for eleven years as a Technical Manager in the AICPA's Professional Ethics Division, where she helped to enforce the AICPA's Code of Professional Conduct by investigating allegations of violations of technical accounting and attest standards, including U.S. Generally Accepted Accounting Principles ("GAAP"), Generally Accepted Auditing Standards ("GAAS"), Generally Accepted Government Auditing Standards ("GAGAS"), Uniform Guidance, ERISA and others. In this role, she assisted in remediation and education of members to improve the overall quality of professional services performed in the industry. Ms. Meyer specializes in government, nonprofit and Single Audit engagements. Ms. Meyer is a member of the AICPA and the North Carolina Association of CPAs. She serves on the AICPA's Technical Standards Subcommittee as well as the Government Accounting and Auditing Committee and the Nonprofit Accounting and Auditing Committee of the North Carolina Association of CPAs.
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