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NFP Financial Reporting Update
Accounting & Financial Reporting

NFP Financial Reporting Update

New standards will affect this year’s financial statements for not-for-profits — prepare now to ensure compliancy.

$153 - $186
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Apr 18, 2023

NASBA Field of Study




CPE Credits



Melisa F. Galasso


3 months

Product Number


 Business & partner 
Product Details

Updated FASB standards for NFP

The Financial Accounting Standards Board (FASB) has announced new standards concerning not-for-profit (NFP) organizations.

To stay compliant, you'll need to know the upcoming changes to how you approach revenue recognition, account for leases, and calculate goodwill.

Learn from real-world scenarios how you can implement FASB's new standards when preparing and auditing a not-for-profit's financial statements.

Key Topics

  • Revenue recognition in NFPs
  • Accounting for leases in NFPs
  • Goodwill in NFPs
  • Collections
  • Contributed nonfinancial assets

Learning Outcomes

  • Apply the most recent requirements of FASB directed toward not-for-profits.
  • Identify how recent FASB activities will affect NFPs.

Who Will Benefit

  • Preparers of NFP financial statements
  • Auditors of NFP financial statements
  • Users of NFP financial statements
Credit Info
CPE Credits
NASBA Field of Study
Knowledge of the not-for-profit industry.
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
2 hours and 30 min
For more information, please refer to CPE requirements and NASBA sponsorship information
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Contact us
Melisa F. Galasso
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with over 15 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not for profit and governmental accounting. Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts. She is a member of the Financial Accounting Standards Board (FASB) Not-For-Profit Advisory Council (NAC). She served on the AICPA’s Technical Issues Committee, has had leadership roles on various A&A committees, and serves on the VSCPA’s Board of Directors. She was honored as “40 under 40” — by CPA Practice Advisor — in 2017 and 2018, was named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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NFP Financial Reporting Update
Apr 18, 2023
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Apr 18, 2023
1pm4pm GMT
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