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Navigating through the Nonprofit Sector’s Changing Environment - Impact of Upcoming FASB Standards and Office of Management and Budget

September 01, 2015
8:30 AM to 12:00 PM EST

Holiday Inn
6001 Rockside Inn
Independence, OH 44131
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Margaret Jordan
(234) 466-4935
  • Summary
  • Agenda
  • CPE Information
Please join the Northeast Ohio office of BDO USA, LLP for a complimentary seminar for nonprofit organizations. Take advantage of this unique opportunity to hear from BDO’s accounting and tax leaders, including Lee Klumpp, BDO's Nonprofit Audit and Accounting Technical Director and recent FASB Fellow.  A member of BDO’s Institute for Nonprofit Excellence℠, Lee has more than 20 years of nonprofit accounting experience and monitors current accounting, auditing, governance and finance issues affecting nonprofit organizations. 

This session will update participants on the recent pronouncements issued by the Financial Accounting Standards Board (FASB) impacting nonprofit organizations and the new requirements from the Office of Management and Budget (OMB) affecting those organizations that administer federal awards, grants and awards. This session will focus on a number of topics, including:
  • Possible changes to the nonprofit financial reporting model
  • Changes to the financial statements as a result of the lease standard
  • The impact of the new revenue recognition standard on nonprofit organizations
  • The uniform administrative requirements, cost principles, and audit requirements for federal awards
8:30 AM to 9:00 AM – Registration and Breakfast

9:00 AM to 12:00 PM – Seminar
Upon completion of this seminar, participants will be able to:
  • Apply the most recent requirements issued by the FASB directed toward not-for-profits
  • Identify and understand the recent projects and developments at the FASB and the potential impact that they may have on your organization in the future
  • Recognize the latest developments and recent activities of the Office of Management and Budget and how to apply these changes to your organization
Delivery: Group Live
Prerequisites: None
Advanced Prep: None
Credits: 3.5 CPE credits in the field of Specialized Knowledge and Applications
Program Level: Basic
BDO USA, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org