PROED 533 - Nonprofit Seminar Series

Session 1 Ready, Set, Go! Be Prepared for the Once in a Generation Changes in Nonprofit Financial Reporting presented by Larson & Company and the State Auditor’s Office. There are four important changes on the horizon which will impact external financial reporting for Nonprofits. To be ready and compliant, your organization must: 1. Understand the key changes and plan for implementation of the New Nonprofit Financial Reporting Model being developed by the Financial Accounting Standards Board (FASB). 2. Understand and plan for implementation of the new Revenue Recognition Standards in Nonprofit Financial Reporting. 3. Understand the new Uniform Guidance applicable to organizations which receive Federal awards and how it will impact your nonprofit. 4. Learn about SB 132 (passed during the 2015 legislative session) and the changes in the financial reporting requirements for nonprofits with the State of Utah. Session 2 The Rules Have Changed: New Administrative and Audit Requirements for Organizations Receiving Federal Funds - OMB's Uniform Guidance co-presented by Larson & Company and the State Auditor’s Office. If your organization receives federal funds you need to understand the changes that are effective for all federal awards received after December 26, 2014. This session will provide an overview of the changes to the OMB Uniform Guidance Circular, give your organization tips and guidance on implementation of the changes, and help you understand real-world implications of the changes.