Governmental and Not-for-Profit Annual Update - VIRTUAL

Overview

VIRTUAL OPTION

Change is inevitable and at times overwhelming for those who are unprepared. Participants can ensure they stay current in governmental and not-for-profit accounting and auditing with this update course. Designed to prepare participants for the latest
accounting and auditing developments affecting governments and not-for-profit entities, this course provides the knowledge to implement the new standards.

Highlights

Review the latest developments in governmental and not-for-profit accounting, including GASB and FASB updates, compensated absences, quality management standards (SQMS), auditing standards, and governmental auditing guidance.

Prerequisites

Basic knowledge and experience in governmental and not-for-profit accounting and auditing

Designed For

Accountants and finance professionals working with governments and not-forprofits

Objectives

When you complete this course, you will be able to:

• 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.
• Identify how FASB's Accounting Standards Updates affect not-for-profit financial statements.
• 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.

Preparation

None