Broadcast: Not-for-Profit Accounting, Auditing and Tax Update
117 | Course | Update | Scheduled
The Tax Cuts and Jobs Act did not spare the not-for-profit sector: new excise taxes; new UBTI rules; changes affecting fringe benefits; changes affecting charitable contributions; changes affecting art collectors who donate to museums; changes in contribution substantiation rules; change in individual taxation affecting donations - some with positive effects and some with negative effects.
ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate with stakeholders. It is effective for fiscal years beginning after Dec. 15, 2017. This program will provide an update on some implementation questions that have been raised.
ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, impacts how not-for-profit entities record grants and contributions. It provides clarification on identifying conditions within grant and contribution agreements. It is effective for fiscal years beginning after June 15, 2018 for public entities, and after Dec. 15, 2018 for all other entities. This program will provide an overview of the standard as well as review example transactions.
This program will also provide an overview of other recent standards issued and projects in progress that impact not-for-profit entities.
Our panel of experts will provide you with what you need to know about the latest and most important GAAP and tax developments affecting nonprofit organizations.
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Public Practitioners and Industry CPAs
- Member (Early Bird)
- Non-Member (Early Bird)
Richard Cole, CPA
Richard A. Cole, CPA, is a Supervising Project Manager at the Financial Accounting Standards Board (FASB). In that role, he provides oversight to projects involving not-for-profit organizations (NFPs), consults on other projects affecting NFPs (e.g., Leases), and participates in some of the FASB’s broader outreach activities.
He is the Supervising Project Manager on the FASB’s current Financial Statements of Not-for-Profit Entities project and also provides staff support for the FASB’s Not-for-Profit Advisory Committee.Prior to joining the FASB, Mr. Cole was the Vice President and Controller at the American Museum of Natural History in New York, where he worked for over seven years. Before that Rick was a senior manager with KPMG LLP, where he worked for over fourteen years and specialized in audits of higher education institutions and other NFPs.Back to Instructors
Patricia Mayer, CPA
Patty Mayer, CPA, has practiced public accounting since 1984. She provides tax and related tax planning services with an emphasis on not-for-profit and tribal organizations as Director of Moss Adams, LLP, Exempt Organizations practice, in San Diego, CA. Patty works predominately with public charities, private foundations, and tribal organizations.
She is a leader of Moss Adams’ Southern California not-for-profit tax practice and a member of the firm’s Not-for-Profit Tax Committee She also has considerable experience in tax compliance and consulting with a focus on large multi-national organizations and health care providers. She helps clients maintain their tax-exempt status by informing them of changes in the law that may affect their organizations and helping them manage unique situations.
Pam is a highly rated, frequent speaker on tax-exempt issues. Pam is an integral part of the training programs both internally and externally. She continues to share her knowledge through seminars, teleconferences, webcasts, and roundtable trainings.Back to Instructors
Stacy M. Arruda
Stacy M. Arruda directs the FL-ISAO's mission to enable cybersecurity resilience for the State of Florida by accelerating public- and private-sector cyber threat intelligence and defensive measures information sharing and coordinated response. Stacy has over 20 years of experience in Cyber and Counterintelligence, and is a subject-matter expert on the link between Social Media and data breaches. She recently retired from a 22-year career with the FBI in the field and FBI Headquarters. She is credited with drafting the FBI's electronic attack in the International arena and boosting the FBI's computer crime and cybersecurity investigative capabilities.Back to Instructors
J. Michael Inzina, CPA, CGFM, CGMA
J. Michael Inzina, CPA, CGFM, CGMA is founder and chief executive officer of Audit Litigation Training and Efficiency Consulting, Inc. (ALTEC), a consulting company serving public accounting firms and other accounting and auditing organizations on matters of audit efficiency, continuing education, litigation and ethics. He has over 40 years of public accounting experience, and remains a partner in the firm of Stagni & Company, LLC, whose practice is concentrated in government and nonprofits organizations. Mike holds a BBA in accounting from the University of Louisiana (Monroe), where he graduated summa cum laude in May 1976.
He is a member of the American Institute of CPAs, Society of Louisiana CPAs, Government Finance Officers Association of Louisiana, and the Association of Government Accountants. Mike earned the CEA in governmental in 1990, was awarded the Certified Government Financial Manager (CGFM) designation in 1996, and the Chartered Global Management Accountant (CGMA) designation in 2012. He is a past chapter president and member of the Society of Louisiana CPAs Board of Directors and served two terms as chairman of the Governmental Positive Enforcement Program of the Louisiana State Board of CPAs. He has served on a number of committees of the Society of Louisiana CPAs, and currently serves on its Ethics Committee. Mike also served on the GASB Service Efforts and Accomplishments Task Force.
Mike has twice been a member of the AICPA Professional Ethics Executive Committee (1989-1992 and 2000-2003), and served on the Auditing Standards Board from 1997 to 2000. From 1986 to 1993, he also served as a member of AICPA Independence and Behavioral Standards Subcommittee, and as Subgroup Chairman of the Governmental Technical Standards Committee. During this time he conducted numerous investigations of complaints filed by federal, state and local agencies alleging substandard performance of audits of governmental and nonprofit entities, and represented the Professional Ethics Division at hearings of the Joint Regional Trial Board.
He contributed to the Implementation Guide for GASB Statement 34, AICPA Statement of Position 98-3, Audits of States, Local Governments and Not-for-Profit Organizations Receiving Federal Awards, revisions to the AICPA Audit and Accounting Guide, Audits of State and Local Governmental Units, the AICPA Practice Aid Fraud Detection in a GAAS Audit, revisions to the Louisiana Governmental Audit Guide and in drafting state legislation affecting governmental accounting and auditing requirements. He has served as technical consultant and instructor for the Louisiana Division of Administration (Office of Community Development) and as consultant to the Louisiana Department of Education. Mike frequently appears as moderator and panelist on the Accountants’ CPE Network. (ACPEN).
Mike has been named twelve times as an Outstanding Instructor by the American Institute of CPAs and several state societies, and received a Special Recognition Award from the Society of Louisiana CPAs Board of Directors for his contributions to continuing education in 1994. In addition, he was awarded the 2001 National Education and Training Award from the Association of Government Accountants and in 2009 was named national Beta Alpha Psi Business Information Professional of the Year. In 2016, Mike received the Distinguished Service Award from the Society of Louisiana CPAs.Back to Instructors
C. Clinton Davis, CPA, JD
C. Clinton Davis, CPA, JD, is a partner in the Dallas, Texas law firm of Krage & Janvey, LLP. He is a frequent presenter at continuing education programs for both accountants and lawyers, including not-for-profit organizations, partnership and real estate planning. He is the author of Texas Society of Certified Public Accountants (TSCPA) courses, Fundamentals of LLC and Partnership Taxation, and Tax Planning for Real Estate and Small Business. Clint is Board Certified in Tax Law by the Texas Board of Legal Specialization. He represents numerous pass-through and charitable entities. Clint has served as program chair or presenter on several ACPEN programs in the areas of tax, not-for profit and business entities.Back to Instructors