Is your nonprofit ready to share with the public how you mange liquidity within your organization? Nonprofits will have to implement accounting standards update 2016-14 presentation of financial statements of not-for-profit entities beginning December 31, 2018. With this implementation comes new disclosures on liquidity that lead to an increased level of transparency in the financial statements and will force organizations to ask tough questions about how their liquidity and reserves are positioned currently and in the future. In this interactive session participants learned about the required disclosures for liquidity and discussed the considerations many organizations are discussing as to how it relates to their current liquidity and reserve strategies.
Presenters from CliftonLarsonAllen, LLC:
Tim Warren, CPA: Tim has over 16 years of experience providing auditing, accounting, consulting, and tax services to nonprofit organizations including higher education, housing, social service organizations, membership based-organizations, community-based organizations, foundations and arts/cultural organizations. Tim has also assisted organizations on strategic implementation of new accounting standards including the new nonprofit reporting framework and revenue recognition.
Melissa Murphy, CPA: Melissa has over four years of experience auditing, accounting and consulting with an emphasis on nonprofit organizations, including those with Single Audit and Yellow Book compliance requirements. She has worked with many nonprofit organizations including human service organizations, healthcare, community based and associations. Melissa also has a strong background in 990 preparation and compliance.