This program was recorded on January 15th, 2019
Nonprofit organizations will be subject to a series of significant new accounting standards that will begin to affect their financial statements beginning with fiscal years ending December 31, 2018. The Financial Accounting Standards Board has issued several pronouncements, including
- Accounting Standards Update 2016-14, “Presentation of Financial Statements of Not-for-Profit Entities” issued in August 2016
- Accounting Standards Update 2018-08, “Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made” issued in June 2018
In addition, the Tax Cuts and Jobs Act passed by Congress and signed by the President in December 2017 could have an impact of nonprofit financial statements and possibly tax liabilities for fiscal years ending December 31, 2018.
This webinar will highlight the accounting pronouncements and how they will impact nonprofit organizations’ financial statements. It will also discuss potential new obligations for paying tax and reporting under the Tax Act. Learn about the changes that will be required on the financial statements and tax returns you will have to produce later this year.
Tish Mogan, Standards for Excellence Director, from the Pennsylvania Association of Nonprofit Organizations will serve as program moderator. This program is offered in partnership with PANO.
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