Agenda
GENERAL SESSION
LAUNCH GENERAL SESSION
8:35 AM – 9:25 AM
KEYNOTE PRESENTATION: The Right Tools for Building a Better Nonprofit Strategy
As nonprofit organizations face a multitude of new challenges, a strategic approach is essential to improving organizational performance and achieving the mission. Create your own ‘toolbox’ of processes and strategies that provide a framework for moving forward and allocating resources in the face of new developments. From aligning the team behind an organizational strategy to implementing a process funnel, we have a set of tools that you can use to approach any nonprofit strategy.
Leon LaBrecque, JD, CPA, CFP®, CFA – Executive Vice President, Head of Planning Strategy, Sequoia Financial Group, Troy
Credits: 1.0 OT
CHANNEL ONE
9:35 AM – 10:25 AM
The Nonprofit Guide to Closing the GAAP on New Standards
While some nonprofit organizations began implementing the new Leases and Credit Losses standards issued by the FASB at the end of 2022, others are still in the process. Discuss best practices for implementation, including classification, accounting and disclosure of leases and determining which assets are subject to the Credit Losses standard and which are not. Then, explore the current FASB agenda, including potential updates to crypto assets and software costs.
Laurie Horvath, CPA – Partner, Not-for-Profit Practice Leader, Baker Tilly US, LLP, Southfield
Credits: 1.0 AA
10:35 AM – 11:25 AM
ASC 842: Presentation, Disclosure & Lessons Learned
As of June 30, 2023, all nonprofit organizations should be implementing the latest iteration of ASC 842: Leases, as set forth by the FASB in its 2019 update. Join us for an overview of the key changes present within ASC 842, including requirements for presentation and disclosures, as well as lessons learned since its initial implementation.
Duane Reyhl, CPA, CGMA – Audit and Accounting Partner, AHP, Midland
Credits: 1.0 AA
11:35 AM – 12:25 PM
New Lease Standard: The Nitty Gritty
Not all lease contracts will meet the materiality threshold for applying the new lease standard. Review case studies to get specific with treatment of subscription-based leases, rent credits, Right of Use assets, liabilities, ongoing calculations, journal entries, donated leases and more in this closer look at the updated leases standard.
Duane Reyhl, CPA, CGMA – Audit and Accounting Partner, AHP, Midland
Credits: 1.0 AA
1:10 PM – 2:00 PM
Top Single Audit FAQtors
Many nonprofit organizations are still new to the independent compliance audit, or single audit, process as opportunities to receive government aid expand. Determine when to expect a single audit as well as best practices for performing one. Plus, receive answers to the most common single audit questions using the latest available guidance.
Daniel W. Merritt, CPA, MBA, CGFM – Assurance Senior Manager, Rehmann, Ann Arbor
Credits: 1.0 AA
2:10 PM – 3:00 PM
Do Your Audit Risk Assessments Pass the Test?
Recent updates to audit risk assessment requirements introduced by SAS No. 145 intend to help auditors avoid making assertions that might be susceptible to misstatement. Review the inherent risk factors set forth by SAS 145, including how to apply its prescribed changes to your audit risk assessment process.
David Arman, CPA, MBA – Senior Manager – Audit Quality, AICPA, Durham, NC
Credits: 1.0 AA
3:10 PM – 4:00 PM
Minding the P’s & Q’s of NFP Accounting Best Practices
In the profit sector, accounting tends to focus on profit, but not-for-profit (NFP) accounting pays special attention to accountability. Use these best practices for following the agreed upon procedures of NFP accounting to ensure organizational programs are delivering the best value to stakeholders.
Abby Fakhoury, CPA – Assurance Manager, Plante Moran, Southfield
Melissa L. Stein, CPA – Assurance Manager, Plante Moran, Southfield
Credits: 1.0 AA
4:10 PM – 5:00 PM
Ethical Considerations: Tips for Navigating NOCLAR
When it comes to handling the transition of clients between different audit service providers, ethics dictate that concerns regarding fraud or noncompliance be shared. In fact, two AICPA committees are dedicated to providing clarity around these circumstances. Find out what your obligations are according to the Auditing Standards Board (ASB) and the Professional Ethics Executive Committee and walk away with a better approach to both employer and client noncompliance with laws or regulations (NOCLAR).
Raymond T. Rowe, CPA, JD – Attorney, Raymond T. Rowe, PC, Troy
Credits: 1.0 ET
CHANNEL TWO
9:35 AM – 10:25 AM
Winning the War for Talent – Post Pandemic
Record numbers of vacant positions, escalated turnover, decreased engagement/morale and significant retirement levels make up the post-pandemic state of talent in our country. Who will succeed in this new environment and how will they win? We focus on practical tools that will allow you to design and implement a strategy for attracting and retaining talent into the coming years.
Jim Bitterle, BBA, MBA – Managing Partner, EDSI Consulting, Dearborn
Credits: 1.0 OT
10:35 AM – 11:25 AM
The Nonprofit Guide to Closing the GAAP on New Standards (Second Offering)
While some nonprofit organizations began implementing the new Leases and Credit Losses standards issued by the FASB at the end of 2022, others are still in the process. Discuss best practices for implementation, including classification, accounting and disclosure of leases and determining which assets are subject to the Credit Losses standard and which are not. Then, explore the current FASB agenda, including potential updates to crypto assets and software costs.
Laurie Horvath, CPA – Partner, Not-for-Profit Practice Leader, Baker Tilly US, LLP, Southfield
Credits: 1.0 AA
11:35 AM – 12:25 PM
Ask the Experts: Tax Edition
Tax on, or related to, nonprofit entities is the focus of our panel discussion. Bring your questions about Form 990 filing requirements, unrelated business income tax, how different types of revenue are classified for tax purposes and more.
Anastasia Loew, CPA – Tax Associate, Maner Costerisan, Lansing
Brandy Mikula, CPA – Principal, Maner Costerisan, Lansing
Moderator: Gina Vermeersch – Tax Associate, Maner Costerisan, Lansing
Credits: 1.0 OT
1:10 PM – 2:00 PM
Post-COVID Money Matters
With the official end to the national public health emergency earlier this year, the many forms of COVID-19 relief funds are at or nearing the end of their runway – for individuals, for schools, for governments and for nonprofit organizations. As excess funds runout, discuss considerations and strategies nonprofit organizations can implement to continue pursuing their mission while adjusting to post-pandemic fiscal restraints amid rising demand for services.
Jennifer Lohrer-Elstone, CPA – CFO, Financial One Accounting, Inc., Plymouth
Anne-Marie Smith, CPA – President, Financial One Accounting, Inc., Plymouth
Credits: 1.0 OT
2:10 PM – 3:00 PM
A Nonprofit Approach to Managing Change
Effective nonprofit organizations are always prepared to weather change. Analyze the three stages of change management and determine strategies for preparing to implement change among team members as well as monitoring and reinforcing the changes made.
Tom Borg, CHDA, CPDFA, MA – Founder & President, Tom Borg Consulting, LLC, Canton
Credits: 1.0 OT
3:10 PM – 4:00 PM
Moving Forward With ESG
Environmental, social and governance (ESG) planning within the nonprofit sector has largely revolved around compliance and mitigation. Discuss the broad scope of ESG reporting, including its relationship to financial reporting, integration methods and the opportunities it presents for communication of an organization’s impact and mission.
Tim Duflo, CPA – Partner, Audit & Assurance, Deloitte & Touche LLP, Grand Rapids
Credits: 1.0 OT
4:10 PM – 5:00 PM
Not All Heroes Wear Capes: Cybercrime Edition
Nonprofit organizations are a prime candidate for cybercrime, as sensitive information regarding staff, volunteers and donors are a valuable prize among criminals. Examine the current cybersecurity climate and review recent high-profile cases to gather insight into today’s top threats. Plus, determine best practices for preventing and responding to cyber incidents.
Robert Cote – President, Security Vitals, Clarkston
Credits: 1.0 OT