Several members of Tate & Tryon's leadership team presented and exhibited at the GWSCPA 2014 Nonprofit Finance & Accounting Symposium which took place December 16th-18th at the Omni Shoreham Hotel in Washington, DC.  Presented by the Greater Washington Society of CPAs, this annual event, now in its 26th year, provided two full days of interactive workshops on critical issues and current topics presented by nationally recognized experts in the field.

Exemption Issues of 501(c)(4), (5) and (6) Organizations

Deborah Kosnett, CPA, Exempt Organization Tax Principal

Non-charitable organizations - particularly section 501(c)(4), (5), and (6) orgs - have much in common with charities, but there are also significant differences, especially with regard to organization, operations, and permissible activities. This session will highlight the requirements for, and barriers to, tax exemption for these types of entities.

Using Data Analytics to Detect Fraud

Christian Spencer, CPA, Audit Partner; John Kubichek, CPA, CFE, Audit Manager

Fraud - unlike other accounting and finance topics seems to always warrant a bit of time in any seminar, mainly because fraudsters are constantly thinking of new schemes to misappropriate funds and go undetected in the process. Those responsible for implementing controls designed to prevent and detect fraud always need to be adjusting their approach to align with the ever changing fraud-prone environment we operate in today. CFOs, Controllers, and others with responsibilities to oversee internal controls will discover and be able to apply enhanced fraud detection techniques involving data analytics.

Revenue Recognition Challenges and Solutions for Nonprofits

Doug Boedeker, CPA, CMA, Audit Partner

Perhaps the quirkiest part of not-for-profit GAAP is the guidance regarding revenue recognition. Accounting for the revenue generated by a not-for-profits contributions, grants, contracts, and fee-for-service arrangements can be challenging. In this session, we will find practical solutions to the intricacies of revenue recognition using case studies derived from real world examples. In addition, we will discuss how not-for-profits will be impacted by the FASBs recently issued Accounting Standards Update, Revenue from Contracts with Customers.

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