Conference
GWSCPA 2023 Nonprofit Symposium
Join GRF at the annual GWSCPA Nonprofit Symposium online and in-person in Washington, DC.
Is Your Nonprofit Ready for the Implementation of the Current Expected Credit Losses (CECL) and Crypto Assets Accounting Standard Updates?
October 31, 2023 | 1:00 PM – 2:00 PM | Featuring Susan Colladay and Omid Mohebbi
The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that improves financial reporting by requiring timelier recording of credit losses on loans and other financial instruments. The ASU will be effective for nonprofits for fiscal years beginning after December 15, 2022. In addition, the FASB has issued a proposed ASU for the accounting for and disclosure of crypto assets, to provide greater clarity and transparency in the financial statements of organizations that hold these assets.
Learning objectives: Attendees will gain a thorough understanding of the fundamentals of the two Accounting Standard Updates, which will in turn enable them to correctly implement the ASU and account for the transactions affected by each ASU. The session will focus on the key areas that will affect nonprofit organizations.
