WCNNFP24: Not for Profit Accounting Conference (Virtual)

This comprehensive one-day conference is designed  for individuals in seeking to enhance their understanding of the distinctive accounting, reporting, and compliance requirements that define the nonprofit sector. By attending this conference, participants from both public accounting firms and nonprofit organizations will gain insights into a variety of key auditing, accounting and tax topics. In person attendees can network with peers during the evening arrival reception and throughout the day. 

 

Highlights: *FASB Update  *Tax Topics for Exempt Organizations *Single Audit Update *NFP Technology *New Expected Credit Loss Model
Who Should Attend: CPAs,accountants, consultants, tax advisers, auditors and other financial managers with not-for-profit clients.
NFP financial executives, including CFOs, CEOs/executive directors, controllers, directors of finance and board trustees
Fiscal managers and staff at not-for-profits.
Event Level: Update
Required Knowledge: None
Advanced Preparation: None
Field of Study: Various
CPE: 8.00

 

THANK YOU TO THE 2024 CAROLINA SPONSORS!

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THANK YOU TO THE 2024 DOGWOOD SPONSORS!

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THANK YOU TO THE 2024 CARDINAL SPONSORS!

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Objectives
  • Participants at the Not-for-Profit Conference will hear from peer experts on topics in auditing, legislative updates, tax revisions and much more. Learn from our NC field of experts who are all active serving in the NFP space.
Event Information
Start Time:
May 22, 2024 8:00 AM Eastern
7:00 AM Central, 6:00 AM Mountain, 5:00 AM Pacific
Add to Calendar:
Estimated Length:
8 hours, 35 minutes
Registration Time Remaining:
7 hours, 26 minutes
Member Price:
$300.00
Non-Member:
$400.00
Click on a topic name to see details and purchase options.
Wednesday May 22, 2024

Change is ever-present, and the pace of change shows no signs of slowing down. Our future success hinges on our ability to adapt to change. 

 

This session explores ways to increase your comfort level with change. We will cover the transformative power of mindfulness techniques as a tool for facing change. Further, we'll discuss how to identify growth opportunities and discuss milestone celebrations to help one avoid slipping back into old habits.

 

Key Takeaways: 

Unlock Your Potential through Shifting Your Perspective on Change.

Put Yourself in the Driver's Seat by Identifying Opportunities.

How to Develop Milestones for Improvement in Adaptability to Change.

 

Field of Study: Professional Development
CPE: 1.00

Speaker Information
Amy Horner  [ view bio ]

This course will review the Accounting Standards Updates issued by the FASB that impact nonprofit entities with a focus on CECL and programmatic investments. We will also look at the work of the Not-for-Profit Advisory Committee (NAC) and the projects they are advising the FASB on.

 

Learning Objectives: 
- Recall the impact of ASUs on nonprofit organizations
- Recognize the activities of the nonprofit advisory committee

 

Field of Study: Accounting
CPE: 1.20

Speaker Information
Jaclyn Veno  [ view bio ]

Join us for an engaging session with John Higgins, a nationally recognized advisor to the profession on digital transformation, as we dive into the AI Revolution in the CPA Profession. Discover how artificial intelligence is reshaping the world of CPAs in the various roles we fill, unlocking exciting opportunities, and guiding us through a world of change. Get ready to embrace innovation and stay ahead in the dynamic world of accounting and finance!

 

Key topics will include:
- Demystifying AI for CPAs
- AI in Action: Transforming accounting services
- Integrating AI into your workflows
- Challenges and ethical considerations

 

Field of Study: Information Technology
CPE: 1.20

Speaker Information
John H. Higgins  [ view bio ]

In the realm of not-for-profit accounting, whether due to limited staffing, resource constraints, or the intricacies unique to this sector, certain audit challenges and reporting gaps tend to surface more frequently than desired. In this session, we will delve into common audit issues and reporting deficiencies found in the financial statements of not-for-profit entities. From accounting errors to overlooked footnote disclosures, we will address some of the most prevalent issues encountered in practice. By the end of this session, you will be equipped with insights into these common deficiencies, enabling you to prevent their occurrence under your vigilant oversight.

 

Field of Study: Auditing
CPE: 1.20

Speaker Information
Kevin Leder  [ view bio ]

Join Calvin in this session to review the following: 

• Explore the history of the tax on unrelated business income and learn about the structure and types of UBI sources

• Understand best practices in identifying and mitigating sources of unrelated business income in your organization

• Learn about the way in which certain alternative investments may create unrelated business income and the risks these investments may pose.

 

Field of Study: Finance
CPE: 1.20

Speaker Information
J. Calvin Marks  [ view bio ]

This session will provide an overview of the current single audit landscape so that you are able to:

  •  Identify compliance and regulatory updates impacting single audits
  • Identify other developments affecting federal grants and contracts

 

Field of Study: Auditing
CPE: 1.00

Speaker Information
Alison Upton  [ view bio ]

This session looks through the lens of the board member and the intricacies of Form 990. This session will provide an understanding of the form's components, highlighting the areas of greatest importance to board members.  Attendees will learn how to effectively review the form to ensure compliance, understand financial health, and maintain transparency, which are essential for upholding the integrity and public trust in nonprofit organizations.

 

Field of Study: Tax
CPE: 1.00

Speaker Information
Fran Leahy  [ view bio ]

In this session, we will provide an overview of recent and pending federal and state policy developments affecting nonprofit organizations.

 

Topics that we are likely to cover include:

• Recent changes to state charitable solicitation licensing laws;

• New federal labor regulations on overtime pay and worker classification;

• Proposed new rules for donor advised funds;

• Possible state tax law changes affecting nonprofits in 2024; and

• New rules affecting nonprofits with state appropriations, grants, and contracts.

 

Field of Study: Specialized Knowledge
CPE: 1.20

Speaker Information
David Heinen  [ view bio ]

This session will include the following objectives: 

• Understanding the new credit loss standard and how it will affect not-for-profit organizations

• Calculating the CECL allowance

• Implementation of the credit loss standard including disclosures in the footnotes to the financial statements

 

Field of Study: Accounting
CPE: 1.30

Speaker Information
Amelia Crawford  [ view bio ]

During this session, the following topics will be presented: 

• Learn the requirements for classification and presentation of expenses by nature and function in your organization's financial statements

• Understand best practices for allocating expenses among programs and supporting services

• Identify the difference between reporting expenses in the audited financial statements and Form 990

 

Field of Study: Accounting
CPE: 1.30

Speaker Information
J. Calvin Marks  [ view bio ]

This session will review case studies and practical application issues in applying ASU 2018-08 – Not For Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. 

 

Topics and objectives to include:

     • Brief review of unrestricted grants and exchange transactions (“fee for service” grants)

     • Focus of the session on identifying and accounting for donor-restricted vs conditional grants, including:

          o   Defining characteristics of each type under the standard 

          o   Distinctions and issues arising from the accounting treatment for each type  

          o   Deciphering vague, ambiguous, and contradictory grant language  

          o   Case studies

 

Field of Study: Accounting
CPE: 1.20

Speaker Information
Susan Glendenning  [ view bio ]

Ethical challenges for CPAs are present in every aspect of our professional and personal lives.   Part of the challenge frequently is simply recognizing that a challenge exists.  We can become so used to acting in certain ways because we’ve always done it that way that we fail to see the harm we are causing or the good we’re failing to do.  For those serving NFPs as employees, board members, or outside service providers, the awareness of the need for ethical conduct is especially important.  Those who benefit from the work of the NFP as well as those who support that work are impacted when there’s an ethical lapse.  The session will examine five areas specific to the work of NFPs and what can be done to mitigate the possibility of any of them happening in your organization.

 

Field of Study: Ethics
CPE: 1.20

Speaker Information
Hunter Cook  [ view bio ]
Individual topic purchase: Selected
North Carolina Association of Certified Public Accountants
Various: 8.00
Products
WCNNFP24: Not for Profit Conference (Virtual)
Member: $300.00
Non-Member: $400.00