Skip to main content
Live Webcast Replay

Nonprofit Accounting and Financial Reporting Explained

Total Credits: 8 including 8 Accounting - Technical

Average Rating:
Not yet rated
ACPEN Industry Institute |  Accounting and Auditing |  Yellow Book
Jennifer Louis, CPA
Course Levels:
8 Hours
Product Setting: Expires 30 day(s) after program date.



This course provides a high-level overview of the most important issues facing nonprofit entities and their auditors.  The focus of this course is on explaining the theory behind major issues and trends, enabling professionals to understand the most important aspects of relevant professional and regulatory standards related to reliable financial reporting for nonprofit entities.      

Basic Course Information

Learning Objectives
  • Identify the reasons for unique accounting and financial reporting considerations for nonprofit entities
  • List the key provisions of ASC 958 related to financial statement considerations for nonprofit entities
  • Describe special considerations for nonprofits, such as revenue recognition for nonexchange transactions, gifts in kind, and more.

Major Subjects
  • Discussion of financial reporting risks increased by the current economic environment, including increased uncertainty related to critical financial statement amounts and significant disclosures
  • Executive summary of recent Accounting Standards Updates 
  • Overview of fair value disclosure requirements and implementation issues
  • Discussion of issues related to donor-restricted endowment funds
  • Classification of net assets and reclassifications
  • Endowments, including accounting, disclosures and UPMIFA
  • Noncascontributions
  • Contributions received and receivable
  • Expense recognition issues
  • Reporting expenses by function and nature
  • Other relevant matters unique to the nonprofit environment

Course Materials


Jennifer Louis, CPA's Profile

Jennifer Louis, CPA Related Seminars and Products



Jennifer has over 25 years experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success.  In 2003 she founded Emergent Solutions Group, which is dedicated to meeting organization’s professional training needs on a project or part-time basis.  Jennifer serves a wide variety of clients, including public accounting firms, state CPA societies, private industry corporations, and public sector agencies.Previously Jennifer served as the Director of Audit Product Development at Surgent Professional Education for three years.  Prior to that, Jennifer was Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and audit process consulting firm later acquired by Thomson Reuters.  Over her six years at AuditWatch, Jennifer served many roles.  She began her career at AuditWatch as Vice President of Product Development.   Jennifer also served as an instructor and consultant for the firm’s Audit Productivity Improvement Program (a comprehensive program enabling accounting firms to enhance audit quality and improve audit efficiency), as well as various other training courses.  Later, Jennifer was primarily responsible for working with clients to design high-caliber, customized training programs.  She led the Training Services Division, which includes AuditWatch University (“core-level” staff training for new hires to managers) and related offerings.  She also co-authored the Guide to Value-Added Auditing (Thomson/Practitioners Publishing Company, Fort Worth, TX, July 2001).

Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP.  While at AARP she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and trainings.

Jennifer was also an Audit Manager at Deloitte, in Washington, DC.  During her five years with Deloitte, she was a frequent local and national instructor.  Jennifer also served as an instructor for the firm’s national “Train the Trainers” program. 

Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting.  She is currently a member of the American Institute of Certified Public Accountants (AICPA) and is licensed to practice accounting in the Commonwealth of Virginia and North Carolina.Contact Jennifer via email at, or via LinkedIn


Tue, Oct 08, 2024 - 10:00am to 05:39pm EDT
Thu, Dec 12, 2024 - 10:00am to 05:39pm EST
Fri, Jan 17, 2025 - 10:00am to 05:39pm EST
Mon, Feb 17, 2025 - 10:00am to 05:39pm EST

Additional Info

Basic Course Information



Advanced Preparation


Designed For

Anyone responsible for preparing or attesting upon nonprofit financial statements

Original Recording Date


Course Developer


Date Added to Catalog


Yellow Book Yes

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199). 

Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.