Governmental/Not-for-Profit Accounting and Auditing Practice Group Meeting
May 21, 2022
8:30 AM - 4:30 PM
The Peabody Hotel
Memphis, Tennessee, USA
Instructor: Melisa Galasso, Galasso Learning Solutions
The session will start out with a 4-hour update on what’s going on in the Nonprofit and Governmental world of A&A. We’ll start with a look at Nonprofit Accounting with a focus on ASU 2020-07 for gifts in kind. Then we’ll review the key changes in GASB 87 for leases. We’ll also review key standards coming down the pike for GASB and FASB, including CECL. We’ll then switch gears for a Uniform Guidance Update with a focus on COVID-19 related funding. After lunch, we’ll transition to roundtables. We’ll focus on discussing how member firms are addressing various implementations, including the impending quality management and risk assessment, as well as leases. We’ll also discuss key issues impacting firms based on the PCPS firm survey, including recruitment and retention and other topics submitted by member firms.
· Recall the changes to Governmental and Nonprofit Accounting
· Describe the impact of COVID-19 funding on Single Audits
· Identify implementation issues for upcoming standards
Participants will earn approximately 7.5 hours of CPE credit.
Note: Any expenses exceeding the group's budget will be charged back equally to attendees.