Nonprofit organizations with fiscal years beginning after December 15, 2019 (and in interim periods within fiscal years beginning after December 15, 2020) must implement the Financial Accounting Standards Board’s (FASB) updated lease accounting standard, ASU 2016-02 (Topic 842). With this year’s deadline looming for many, now is the time to learn what your organization must do to be in compliance.
Join GRF’s nonprofit accounting experts to learn how the new standard works and how to develop your organization’s strategy for implementation. Participants will come away with actionable steps to help them make implementation easier and more effective.
- Overview of ASU 2016-02 (Topic 842) and its purpose
- New accounting treatment of leases
- “Right of Use Assets and Lease Liabilities”
- Steps for transition adjustments of existing leases and implementation guidance for new leases
Terri M. McKnight, CPA | Nonprofit Audit Partner and Director of Audit
Amy Boland, CPA | Nonprofit Audit Partner
Additional Program Details
- Learning Objective: To provide attendees with a better understanding of FASB’s updated lease accounting standard, ASU 2016-02 (Topic 842)
- Instructional Delivery Methods: Group Internet-based
- Recommended CPE: 1.0 CPE
- Recommended Fields of Study: Audit
- Prerequisites: None Required
- Advance Preparation: None
- Program Level: Basic
- Course Registration Requirements: None
- Refund Policy: No fee is required to participate in this session.
- Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
- Complaint Resolution Policy: Gelman, Rosenberg & Freedman is committed to our participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact firstname.lastname@example.org with any concerns.