Click here to listen to podcast or use the above media player.
In August 2016, the FASB implemented an accounting standards update (ASU 2016-14) to refresh the previous reporting model. AAFCPAs discusses the main provisions of this ASU, which include net asset classification (collapsing three asset classifications into two), reporting expenses by natural function and category, the place-in-service approach for property and equipment purchases, and underwater endowment reporting. We review effective dates, and provide transition guidance and tips for a smooth implementation.
We also discuss the impact of the new Revenue Recognition standard, which will require significant management judgment, in addition to changing the way many Nonprofits recognize revenue in their financial statements.
This audio session was recorded live at AAFCPAs’ May 3rd, 2017 Annual Nonprofit Educational Seminar. Slides may be downloaded by clicking the links below:
Watch this video clip (1 min 49 sec) for a summary; and then download the full audio of the session recorded May 3th, 2017 at AAFCPAs’ Annual Nonprofit Educational Seminar.
Matt leads AAFCPAs’ Healthcare Division, providing assurance, tax and advisory solutions for sophisticated and complex healthcare organizations including Federally Qualified Health Centers, behavioral health providers, home care agencies and hospices, nursing homes, and senior care living centers. Matt advises healthcare providers on consolidation and coordination of care, including the integration of behavioral health into the primary care delivery system. He also provides consulting solutions for providers transitioning to new value-based reimbursement models, and data driven …
Nicole is a partner in the commercial assurance practice of AAFCPAs. She specializes in advising diverse commercial clients including: early-stage venture-backed companies, family owned and private equity owned companies, and mid-sized, multinational SEC registrants. Nicole provides sound financial management advice to clients in the specialty areas of: financial reporting, mergers, acquisitions & Initial Public Offerings. Nicole is Chair of AAFCPAs’ Revenue Recognition Task Force, and her technical accounting experience includes revenue recognition implementation, as well …
0
We use cookies to ensure we give you the best experience on our website. By continuing your visit, you consent to the use of these cookies. See our:
Functional cookies
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
