Non-Profit Entity Financial Statements - 2026
Date: Thursday, September 24, 2026
Instructor: Salvatore Collemi
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
This course provides a practical, up‑to‑date exploration of the financial reporting framework for not‑for‑profit (NFP) entities, focusing on presentation, disclosure, and accounting requirements under recently issued FASB Accounting Standards Updates (ASUs). Participants will gain clarity on how ASU 2016‑14 reshaped NFP reporting and how subsequent standards continue to influence form, content, and required disclosures.
Using real‑world examples, the course highlights common challenges faced by NFPs, including net asset classification, liquidity disclosures, functional expense reporting, and distinguishing characteristics that separate NFPs from business entities. Attendees will leave equipped with practical tools to prepare, review, and interpret NFP financial statements in alignment with current FASB guidance.
Who Should Attend
This course is ideal for professionals responsible for preparing, reviewing, or auditing not‑for‑profit financial statements.
Topics Covered
- Financial statement presentation requirements for NFPs
- Overview of key FASB ASUs affecting NFP reporting
- Top accounting and disclosure issues for NFPs
- Net asset classifications and functional expense requirements
- Liquidity and availability disclosures under ASU 2016‑14
- Examples of common NFP reporting challenges and solutions
- Distinguishing business entities from NFP entities in practice
Learning Objectives
- Identify core financial statements and required footnote disclosures for not‑for‑profit entities
- Recognize recently issued FASB ASUs applicable to the NFP sector and evaluate their reporting impact
- Differentiate characteristics that distinguish NFPs from business entities in financial reporting
- Apply examples of common NFP reporting issues, including net asset classifications and liquidity disclosures
- Analyze top accounting and presentation challenges affecting NFPs today
- Differentiate among applicable ASUs and determine how they apply across various NFP scenarios
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
