This year, GHJ held its annual Nonprofit Accounting and Tax Update Workshop on June 8 at the Goodwill Community Enrichment Center at Fletcher Square.
Panelists discussed how recent updates to accounting standards could impact a nonprofit’s financial reporting. They also shared insights on the latest developments in the nonprofit industry and their effects.
Attendees learned about various topics, including:
- Current accounting trends and their effects on a nonprofit’s financial statements
- Changes to nonprofit and tax-exempt laws
- Nonprofit state and local tax regulations and filing issues
- Charity Navigator and the criteria it uses to evaluate a charity’s financial health
- Nonprofit Tax Law Update
- FASB’s Accounting Standards Update, ASU 2016-02, Leases
- FASB’s Accounting Standards Update, ASU 2015-07, Fair Value Measurement
- Financial Statements of Not-for-Profit Entities Tentative Board Decisions to Date during Redeliberations as of March 30, 2016
- Margaret Karren, Partner, GHJ
- Donella Wilson, Partner, GHJ
- Lauren Haverlock, Principal, GHJ
- Akash Sehgal, Principal, GHJ
- Stephanie Yan, Senior Manager, GHJ