This course discusses accounting for endowments and split-interest agreements held by not-for-profit entities (NFPs).
Learning Objectives
- Learning Outcomes
- Identify recently issued FASB Accounting Standards Updates (ASUs) that cover broad and narrow issues.
- Identify the objectives and working plan of the Private Company Council (PCC).
- Determine the updates issued by FASB at the recommendation of the PCC.
- Recognize ongoing FASB projects.
- Identify unique challenges for audit engagements.
- Determine the key elements related to the auditor’s risk assessment and recently issued SASs.
- Distinguish key elements included in the recently issued Statements on Quality Management Standards (SQMSs) and Statements on Standards for Accounting and Review Services (SSARSs)
- Identify best practices for performing analytical procedures in a review engagement.
