Accounting Update

2018 was another busy year for the Financial Accounting Standards Board (FASB).  So far in 2018, the FASB has issued 16 accounting standard updates.  This roundtable provides additional information on the updates that specifically impact not-for-profit entities such as leases and accounting guidance for contributions received.  In addition, we will review the key accounting changes that go into effect in the next few years.  We will refresh you on the new presentation requirements of financial statements of not-for-profit entities that must be implemented beginning with the December 31, 2018 financial statements.  We will also review the new revenue recognition requirements that must be implemented for the 2019 financial statements as you may need to update your accounting treatment beginning January 1, 2019.  We will also briefly touch on the new leasing standards that must be implemented for the 2020 financial statements.  Join us for this session as we discuss these critical updates. This session is intended to provide technical advice to nonprofit organizations who desire to keep abreast of the accounting standards that apply to these organizations.

Our discussion leader is Dana Outhouse, CPA, Supervisor with Wegner CPAs.  Dana joined the firm in June of 2017 and is a member of Wegner CPAs’ assurance group specializing in providing audit, review, and consulting services to nonprofit organizations.  Dana has performed financial audits as well as compliance audits and internal control reviews for our nonprofit clients.  Prior to joining Wegner CPAs, Dana was an Assistant Professor of Accounting at Concordia University Wisconsin for four years.  Before teaching, she specialized in internal audit for several Fortune 500 companies.  Dana is excited to get the opportunity to meet you and to share with you the key accounting updates for the year.


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