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New FASB Reporting Rules: CAA Boards

Are Your Board and Management Team Up to Speed?


Now that the new FASB accounting standards for nonprofit organizations have taken effect, it’s time to step back and evaluate whether your CAA’s board and senior staff are familiar with the new presentation of financial statements, and how each is effectively using the information to inform its organizational strategy discussions and decisions. This two-part webinar series discusses the board’s and management’s responsibilities for exercising oversight and stewardship over a CAA’s finances, particularly how the new FASB accounting rules impact their review of a CAA’s financial statements. This webinar, Part 1, focuses on the board’s responsibilities, and Part 2 focuses on the management team’s role in financial accountability for a CAA. In connection with the webinar series, we also issued a newly-updated section of CAPLAW’s toolkit, Tools for Top-Notch CAAs: A Practical Approach to Governance and Financial Excellence, to address the new FASB rules and required disclosures and their impact on nonprofit CAAs. The updates include newly-developed appendices with sample financial statements to train the board and executive and fiscal staff on analytic approaches most likely to produce useful insight for organizational decision-making.

Presented on: September 21, 2020
Presented by: Kay Sohl, Kay Sohl Consulting

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