Is Your Nonprofit Prepared to Receive and Invest Cryptocurrencies?
The increased use of cryptocurrencies has had a significant effect on nonprofit organizations, particularly with regard to their investments and donor contributions. Detecting a trend, the Association of International Certified Professional Accountants (a combined organization of the AICPA and CIMA) organized a working group in 2020 and published a study on the accounting and auditing of digital assets under US GAAP. What was once considered a ‘flash in the pan’ only a few years ago is now an increasingly acceptable and mainstream means to invest funds or make donations.
The increased use of cryptocurrency means that nonprofits must become knowledgeable about the accounting and auditing implications. Join GRF nonprofit audit experts, Ricardo Trujillo, CPA, CITP, CISA, Omid Mohebbi, CPA, and Katelyn Miller, CPA, MST, for an overview of the fundamentals of cryptocurrency accounting and auditing specifically for nonprofit finance and accounting professionals.
The webinar will be of particular relevance to foundations, social welfare organizations, and Internal Revenue Code Section 527 Political Organizations, including political parties, campaign committees and political action committees.
Key Takeaways:
- How to classify, measure and recognize cryptocurrencies on your financial statements
- Considerations of fair value measurement
- Management and auditor required skillsets
- The relevant professional standards
- Challenges and implications for overall business strategy
Omid Mohebbi CPA
Additional Program Details
- Learning Objective: To provide attendees with a better understanding of the cryptocurrencies and how to manage digital assets.
- Instructional Delivery Methods: Group Internet-based
- Recommended CPE: 1.0 CPE
- Recommended Fields of Study: Business Management and Organization (Non-Technical)
- 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: GRF CPAs & Advisors is committed to our participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact kdavis@grfcpa.com with any concerns
GRF CPAs & Advisors is a CAE Approved Provider. This program meets the requirements for fulfilling the professional development requirements to earn or maintain the Certified Association Executive credential and may be applied for 1 (one) credit toward your CAE application or renewal professional development requirements. Every program that we offer which qualifies for CAE credit will clearly identify the number of CAE credits granted for full participation, and we will maintain records of your participation in accord with CAE policies. For more information about the CAE credential or Approved Provider program, please visit www.asaecenter.org/cae.