ASU 2016-14: Presentation of Financial Statements for Not-for-Profit Entities (“ASU”) was released August 18, 2016 by the Financial Accounting Standards Board (“FASB”) and is effective for fiscal years beginning after December 15, 2017. The issuance of this new ASU represents a fundamental financial statement reporting change for not-for-profit entities which has not occurred in over 20 years. This webinar attempts to convey the most recent accounting developments that will impact the presentation of the financial statements. Topics to be covered include: revised net asset classifications, liquidity and availability, expense reporting, investment return and statement of cash flows.
Discuss implementation of ASU 2016-14.
Review samples of reporting changes to NFP financial statements required by ASU 2016-14.
Discuss important points to convey in management and board meetings.
Alexander Buchholz is a partner at PKF O’Connor Davies with over 15 years of public accounting experience, including a “Big Four” accounting firm.
Alex is responsible for developing the audit approach, supervision of staff, and establishing and maintaining the engagement budget. Additionally, he is responsible for coordinating staff and management so that the audit is performed on a timely basis with as little intrusion to client operations as possible.
His expertise is in single audits, internal control/compliance audits, and specialized cost reporting. His industry experience is in healthcare and non-profit entities, including skilled nursing facilities, social service agencies, charter schools, diagnostic and treatment centers, home care service entities, adult homes and other long-term care facilities, special needs entities, and cemeteries.
Alex is also an adjunct professor at Brooklyn College of the City University of New York. He teaches undergraduate and graduate courses in accounting and auditing. He also teaches at the School of Professional Studies of the City University of New York for the Online Business Management Department, Mercy College, and Lehman College.
He conducts internal training seminars for the firm and frequently speaks at outside organizations and associations. He is a former member of the firm’s continuing professional education (CPE) committee, emphasizing single audit training. Alex has written many articles on accounting and auditing topics for a variety of professional publications.
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