
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.
Format
Webcast
Date
Sep 23, 2025
NASBA Field of Study
Accounting (Governmental)
Level
Intermediate
CPE Credits
8
Instructor
Renee Rampulla
Availability
Product Number
VGNAU250923
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.
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.
Who Will Benefit
Accountants and finance professionals working with governments and not-for-profits
Group ordering for your team
2 to 5 registrants
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