GOV2422. CECL for NFPs

The current expected credit loss (CECL) model under Accounting Standards Update (ASU) 2016-13 isn't just for banks and financial institutions - it applies to not-for-profit organizations too. This session will provide an overview of the impact this standard has on a not-for-profit's financial statements and considerations that will impact the allowance for uncollectible accounts and loans receivable, as well as an overview of the revisions that were made to the AICPA's Not-for-Profit Audit Guide in relation to this standard.

Learning Objectives:

• Identify the impact of CECL on a not-for-profit's financial statements.
• Distinguish the additional considerations of current and expected trends when evaluating the uncollectible allowance.
• Determine the items to which CECL applies.