2025 Annual Update for Not-for-Profit Accountants & Auditors
6.00 Credits
Member Price $219
Non-Member Price $249
Overview
Stay ahead of the curve with this essential training designed for not-for-profit accountants and auditors. This course provides a comprehensive update on the latest developments impacting nonprofit financial reporting and auditing. On the accounting side, we will review the latest FASB standard-setting activities affecting NFPs, including programmatic investments and their interplay with the CECL standard. Additionally, we will explore the IFR4NPO project, a global initiative aimed at establishing universal financial reporting standards for nonprofits. Transitioning to auditing, this course covers the 2024 Yellow Book updates, the shift from quality control to quality management, and key audit matters with early adoption options. We'll also address Single Audit updates, GAO reports on improper payments and fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties.
Highlights
- Not for Profit
- Auditing & Accounting
- Yellowbook
Prerequisites
Prior experience with nonprofit accounting and auditing
Designed For
Accounting Professionals
Objectives
- Identify elements of the proposed IFR4NPO standards
- Recall the impact of recent standard setting on programmatic investments
- Identify the components of quality management
- Recall the components of quality management in the 2024 Yellow Book
- Identify changes to single audits as a result of the 2025 Compliance Supplement
- Recognize the impact of the 2024 Uniform Guidance on Single Audits
- Identify the key findings in GAO's Improper Payments: Information on Agencies' Fiscal Year 2023
- Recognize the requirements of the FDTA
- Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
Preparation
None
Leader(s):
Leader Bios
Melisa Galasso, Galasso Learning Solutions LLC
Melisa Galasso, CPA is assionate about providing confidence, not just compliance as she leads Galasso Learning Solutions as Founder & CEO. Melisa is a nationally recognized authority in designing and facilitating courses on advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Since 2016, she has guided the GLS team to deliver quality in everything we do. With a far-ranging career in public accounting, academia and industry and a bachelor’s degree from Georgetown University, Melisa has built a reputation for delivering engaging, effective learning experiences for CPAs. Committed to advancing our profession, she has served on multiple committees for leading industry organizations including the AICPA and FASB, written the nonprofit accounting book, “Money Matters for Nonprofits,” and has been honored with the Top 50 Women in Accounting Award, the Rising Star award from NAWBO Charlotte, and “40 under 40” recognition by CPA Practice Advisor. In her free time, Melisa loves spending time with her family and can often be found at one of her daughter’s horse shows, supporting the arts with tickets to the orchestra, volunteering, or speaking a bit of French or Spanish on one of her treasured quarterly vacations.
Non-Member Price $249
Member Price $219