Not-for-profit contributions: Counting vs. accounting | Hedging may get easier under new FASB accounting standard | US accountants keeping an eye on training, wage pressure
June 21, 2017
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Accounting and Reporting Update
Not-for-profit contributions: Counting vs. accounting
When is a contribution to a not-for-profit really a contribution? Many would say it depends on whether you ask someone in the accounting office or someone in the development department.
AICPA Insights (6/8) 
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Hedging may get easier under new FASB accounting standard
Accounting obstacles that prevented some organizations from using hedging to manage risks may be eliminated by a standard that received preliminary approval from the Financial Accounting Standards Board earlier this month.
Journal of Accountancy online (6/7) 
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Maintain the Health of Your Nonprofit Budget
Budget Checkup: Critical Components to the Nonprofit Budget Review Process covers what your nonprofit finance team needs to keep your budget up-to-date. Discover best practices, when/how to perform routine assessments, helpful tips, and much more. Download Nonprofit Budget Checkup today!
Emerging Trends
US accountants keeping an eye on training, wage pressure
The outlook for US finance decision-makers' businesses remains positive, according to a quarterly AICPA survey, which shows some concern about employee costs and availability of workers.
CGMA Magazine online (6/1) 
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AI bots boost sales teams
Companies are now relying on tools powered by artificial intelligence for tasks such as answering customer inquiries and sorting through emails in search of promising sales leads. In some cases, these tools may take the form of online chatbots or virtual assistants that help sales reps with their work.
Harvard Business Review online (tiered subscription model) (6/12) 
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Eliminate Intercompany Accounting Risk
Join a three-part webinar series on the latest developments in intercompany accounting, designed for you to understand the new regulatory environment and build a strong intercompany accounting system for your organization. Register for the webinar today.
Tax Corner
Consider these issues to prepare for tax overhaul
As tax discussions continue, chief financial officers should look at certain key issues with their tax officers to prepare for potential legislative changes. Companies should be aware of how the changes could affect their overseas assets, the potential effect on large investments and any unwelcome surprises that could come with a rate cut.
CFO (5/31) 
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US companies prep for global tax challenges
Complying with the Organization for Economic Cooperation and Development's base erosion and profit shifting rules can be challenging and may require staff to sort through multiple disconnected systems. At the same time, companies are working to comply with two updated parts of the Internal Revenue Code: Sections 385 and 956.
CFO (5/23) 
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Lease accounting: Are you prepared?
Changes triggered by the new lease accounting standard could take longer to address than you might think. This report looks at the standard, common challenges companies are likely to face, and first steps to consider. Free download >
Leadership Lessons and Tips
Tips on giving an effective training session
Make sure your staff is engaged with the next training session you offer by following these nine tips for a standout presentation. Among other things, be sure to match your content to the audience's knowledge level, include time for discussion and use examples to enliven the presentation.
CGMA Magazine online (5/31) 
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Create company all-star teams
Having your most talented employees team up and tackle critical projects can lead to a significant increase in productivity, research shows. For best results, companies must be able to track their star performers and eliminate obstacles that could stop them from collaborating with one another.
Harvard Business Review online (tiered subscription model) (6/6) 
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Tech Topics
Why accountants need to get a grip on blockchain
Blockchain technology could transform the accounting profession, so professionals need to educate themselves. Here is a look at four key aspects of blockchain, including the high level of security it provides and its potential effect for auditors.
CGMA Magazine online (6/13) 
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Using millennial employees to spread tech knowledge
Companies such as Aflac use reverse mentoring to teach IT veterans new tech tricks by pairing them with digitally savvy millennials. Younger employees, meanwhile, benefit from the business knowledge and decision-making skills of older peers.
CIO online (6/6) 
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Regulatory Developments
Supreme Court puts time limit on disgorgement
The Supreme Court has ruled that the Securities and Exchange Commission must act within five years of a fraud claim if it wishes to force companies to repay illegal profits through disgorgement. The ruling reverses a lower court's decision that had concluded that disgorgement does not have a statute of limitations.
The Hill (6/5),  Reuters (6/5) 
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Free CPE Webcast: "Enterprise Risk Management -- The Real Value Proposition"
An Enterprise Risk Management program can be critical to the success of an organization. Attend the webcast on July 12 at 11 a.m. ET to learn key insights and perspectives for making an ERM program successful. CGMA designation holders will earn two free CPE credits. Register here.
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New CGMA webcast: "Integrated Reporting: A Holistic Approach to Create Organizational Value"
Integrated reporting is helping businesses to think holistically about their strategy and plans, make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance. Learn how to create organizational value with integrated reporting during this webcast on July 11 at 12 p.m. ET. CGMA designation holders receive a 20% discount. Register here.
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AICPA Financial Planning & Analysis Conference
The 2017 AICPA Financial Planning & Analysis Conference -- July 19-21 in Las Vegas -- will feature leading experts who will help you expand your financial and analytical skills, with key strategies and advanced techniques necessary for future success. You'll learn about the most up-to-date tools, techniques and strategic frameworks to drive growth and change in your organization -- all to help you fulfill your role in FP&A.
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About the AICPA
The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations and federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.
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