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ACPEN Signature: 2018 Not-for-Profit Accounting, Auditing & Tax Update

Total Credits: 8 including 2 Accounting - Technical, 2 Auditing- Technical, 1 Regulatory Ethics - Technical, 3 Taxes - Technical

Average Rating:
ACPEN Signature |  Accounting and Auditing |  Tax |  IRS Approved
C. Clinton Davis, CPA, JD |  Richard A. Cole, CPA |  J. Michael Inzina, CPA, CGFM, CGMA |  Patty Mayer, CPA
Course Levels:
8 Hours


There have been significant Accounting Standards Updates (ASUs) issued by the FASB that impact NFP Entities. The IRS continues to refine and revise the Form 990 and 990-EZ.  Our panel of experts will provide you with what you need to know about the latest and most important GAAP and tax proposals and developments affecting non-profit organizations.

The 2018 course will provide a thorough FASB Update with recent Accounting Standards Updates issued that could impact Not-for-Profits including:

            -Presentation of Financial Statements of Not-for-Profit Entities

            -Revenue Recognition


            -Also, you will receive an update on certain projects currently being worked on at the FASB including Revenue Recognition of Grants and Contracts by Not-for-Profits and other projects which could impact Not-for-Profit organizations.


In addition, our panel of experts will provide an Auditing Update addressing

                  - SAS 132—Going Concern,

                  -Other audit-related issues such as a review of Internal Controls and Fraud in the Not-for-Profit Environment.

                  Panels will pay particular attention to these issues in large and small organizations.

Exposure drafts:

-Forming an opinion and reporting on financial statements of employee benefit plans subject to ERISA.

-The auditor’s responsibilities related to other information included in annual reports.

-Omnibus 2018.

-Forming an opinion and reporting on financial statements.

-Communicating key audit matters in the independent auditor’s report

-Modifications to the opinion in the independent auditor’s report

-Emphasis-of-matter paragraphs

-Addressing disclosures in the audit of financial statements


You will also receive a thorough Tax Update that will include:

                        -Understanding Key Issues Affecting Tax Exempt Organizations

Exempt Organization Provisions Including

Executive Compensation.

                        -College and University Provisions.

                        -Employees of Exempt Organizations.

                        -Other Provisions to be Aware of:

      Pass Through Investments


                  -Avoiding Common  Errors in Completion of IRS form 990,

                  -Form 990, Overview, Layout and Navigation.

                  -What Board Members Should be Aware of When Reviewing the Form 990.

                  -Tricky Rules that can cause errors.

                  -An overview of Unrelated Business Income (UBIT),

                  -Schedule L, Identification of Reportable Transactions.

                  -Schedule A, Public Support Testing and Improving the Percentage.                     


A national expert will provide an Ethics Update (1 CPE Hour) geared to the Not-for-Profit organization. This will include:

                        -Hosting Services.

                        -Proposed Omnibus.

                        -Noncompliance with laws and regulations (“NOCLAR”).

                        -State and local government entities.

                        -Long association of senior personnel with an attest client.



**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Learning Objectives
  • New Changes in Not-for-profit Industry Practice

Major Subjects
  • Auditing Update
  • Tax Update
  • Ethics Update


Course Materials


C. Clinton Davis, CPA, JD Related seminars and products: 6

Krage & Janvey, L.L.P.

C. Clinton Davis, JR. practices law in the Dallas, Texas law firm of Krage & Janvey, L.L.P.  He was licensed in Texas in 1982, has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988 and is a member of the College of the State Bar of Texas.  He has also been licensed as a Certified Public Accountant in Texas since 1980 and as an attorney in Florida since 1980.  Mr. Davis attended law school at Southern Methodist University and received his Juris Doctor degree, cum laude, in 1980.  At SMU, Mr. Davis was selected to membership in the Order of the Coif, an honor society limited to graduates in the top 10% of the graduating class.  Mr. Davis received his bachelor of science degree in accounting from Northwestern State University of Louisiana where he graduated first in his class.  Mr. Davis is a frequent speaker at CPE programs and conferences.  He is the author of the TSCPA programs Principles of LLC and Partnership Taxation:  An Introduction to Subchapter K, Navigating the LLC and Partnership Allocation and Basis Minefield, and LLC and Partnership Taxation for the Sophisticated Practitioner. 

Richard A. Cole, CPA Related seminars and products: 1

Richard A. Cole, CPA, is a Supervising Project Manager at the Financial Accounting Standards Board (FASB).  In that role, he provides oversight to projects involving not-for-profit organizations (NFPs), consults on other projects affecting NFPs (e.g., Leases), and participates in some of the FASB’s broader outreach activities.  He is the Supervising Project Manager on the FASB’s current Financial Statements of Not-for-Profit Entities project and also provides staff support for the FASB’s Not-for-Profit Advisory Committee.Prior to joining the FASB, Mr. Cole was the Vice President and Controller at the American Museum of Natural History in New York, where he worked for over seven years. Before that Rick was a senior manager with KPMG LLP, where he worked for over fourteen years and specialized in audits of higher education institutions and other NFPs. 

J. Michael Inzina, CPA, CGFM, CGMA Related seminars and products: 5

J. Michael Inzina, CPA, CGFM, CGMA  is president and CEO of Audit Litigation Training and Efficiency Consulting, Inc. (ALTEC), a consulting company serving the accounting and auditing community in audit efficiency, training, ethics and litigation support.  He has over thirty-five years in public practice and is also a partner with the firm of Stagni & Company, LLC, concentrated in governments and nonprofit organizations.  Mike holds a BBA in accounting from the University of Louisiana (Monroe), where he graduated summa cum laude in May 1976.  He is a member of the American Institute of CPAs, the Society of Louisiana CPAs, the Association of Government Accountants and the GFOA, and earned the CEA in governmental in 1990.  He was awarded the Certified Government Financial Manager (CGFM) designation in 1996, and the Certified Global Management Accountant (CGMA) designation in 2012.  Mike is a past chapter president and member of the Society of Louisiana CPAs Board of Directors and served two terms as chairman of the Governmental Positive Enforcement Program of the Louisiana State Board of CPAs.  He has served on numerous committees of the Society of Louisiana CPAs, and presently is a member of its Ethics committee. Mike has twice served as a member of the AICPA Professional Ethics Executive Committee (1986-1989, and 2000-2003), and served as a member of the AICPA Auditing Standards Board from 1997 to 2000. From 1986 to 1993, he served as a member of AICPA Independence and Behavioral Standards Subcommittee, and was Subgroup Chairman of the Governmental Technical Standards Committee.  During this time he conducted numerous investigations of complaints filed by federal, state and local agencies alleging substandard performance of audits of governmental and nonprofit entities, and represented the Professional Ethics Division at hearings of the Joint Regional Trial Board. He contributed to the GASB Statement 34 Implementation Guide, AICPA Statement of Position 98-3, the industry audit and accounting guide Audits of State and Local Governmental Units, the AICPA Practice Aid to SAS 99 (fraud) and assisted in revisions to the Louisiana Governmental Audit Guide and in drafting state legislation affecting governmental accounting and auditing requirements. He has served as technical consultant and instructor for the Louisiana Division of Administration (Office of Community Development), and as consultant to the Louisiana Department of Education.  Mike frequently appears as moderator and panelist on the Accountants CPE Network. He has been named twelve times as an Outstanding Discussion Leader by the American Institute of CPAs and the Louisiana, South Carolina and West Virginia state societies.  He received a Special Recognition Award from the Society of Louisiana CPAs Board of Directors for his contributions to continuing education in 1994, and was awarded the 2001 National Education and Training Award from the Association of Government Accountants.  In 2009, Mike was named national Beta Alpha Psi Business Information Professional of the Year.

Patty Mayer, CPA Related seminars and products: 1

Tax Senior Manager

Moss Adams LLP, Albuquerque, NM

Patty Mayer, CPA, has practiced public accounting since 1984. She provides tax and related tax planning services with an emphasis on not-for-profit and tribal organizations as Director of Moss Adams, LLP, Exempt Organizations practice, in San Diego, CA. Patty works predominately with public charities, private foundations, and tribal organizations. She is a leader of Moss Adams’ Southern California not-for-profit tax practice and a member of the firm’s Not-for-Profit Tax Committee She also has considerable experience in tax compliance and consulting with a focus on large multi-national organizations and health care providers. She helps clients maintain their tax-exempt status by informing them of changes in the law that may affect their organizations and helping them manage unique situations. Pam is a highly rated, frequent speaker on tax-exempt issues. Pam is an integral part of the training programs both internally and externally. She continues to share her knowledge through seminars, teleconferences, webcasts, and roundtable trainings.

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Course Developer Business Professionals' Network, Inc.
Designed For

Industry & Public Practice

Yellow Book Yes (4 hrs)
Original Recording Date 06/27/2018
Date Added to Catalog 01/29/2018

Additional Information

Instructional Delivery Method Group Internet Based
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:

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. 



Overall:      4.5

Total Reviews: 60


Jayne J - Russellville, Arkansas

"Always enjoy ACPEN Signature Series courses."

Joel W - Canyon, Texas

"Appreciate Mike Inzina being almost authentic and almost saying what many of us who have been in this profession for decades are now thinking about some of what is taking place in it."

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