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AAFCPAs to Present Educational Workshops on Affordability & Accessibility, FASB ASU 2016-14, and Lease Accounting at NBOA Conference

AAFCPAs has been selected to present educational workshops on three important topics at the National Business Officers Association’s 2017 Annual Meeting in Washington D.C. on February 26th – March 1st.  This is a must-attend conference for business officers and other independent school leaders, providing exceptional professional development programming and networking opportunities for over 1,000 independent school professionals from across the country.
AAFCPAs Presents at 2017 NBOA Annual MeetingAffordability & Accessibility
AAFCPAs Partner John Buckley, CPA along with AAFCPAs’ client Cynthia Fanikos, Chief Financial Officer, Saint John’s Preparatory School (Danvers, MA) will present a 75-minute, interactive workshop to explore the challenges schools face in remaining affordable and accessible to their communities. Schools must maximize resources for tuition assistance while stewarding the school’s financial assets and maintaining enrollment.  John and Cindy will examine three business models that address the issues of access, affordability, and financial sustainability. They will discuss how current short-term resources at your school may be invested properly to help meet tuition-assistance goals.  AAFCPAs advises Independent Schools on enhancing and leveraging the use of their assets for short and long-term goals, so they may optimize the services they are able to provide, and further their mission.  We are happy to share our expertise with the NBOA.
Impact of the FASB Financial Statement Project on Independent Schools
AAFCPAs Partner Tom Muldoon, CPA, CGMA will present 15-minute Goldmine Sessions on the impact of FASB’s Accounting Standards Update 2016-14 on Independent Schools.  The ASU, Presentation of Financial Statements of Not-for-Profit Entities, has significantly changed the preceding not-for-profit financial reporting model.  AAFCPAs advises clients to start preparing now to determine how ASU 2016-14 affects your financial picture, your stakeholders, and the way you do business.  We are happy to share our expertise on this important issue facing business officers of independent schools.
The Impact of the New Lease Accounting Standard on Independent Schools
AAFCPAs Partner John Buckley, CPA will present 15-minute Goldmine Sessions on the impact of the Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) on Independent Schools.  Schools would be wise to begin their preparations immediately, particularly if they have extensive lease portfolios. The accumulation of necessary data, as well as development and implementation of new processes and controls, will likely require significant time and resources.  Debt covenant ratios must be calculated, and may require amendments to existing loan agreements. Schools must evaluate the impact of these changes on your expenses and contracts, and assess buying versus leasing assets.  AAFCPAs advises clients on how the Lease ASU affects their financial picture, and we are happy to share our expertise on this important issue facing school business officers.
Click here to learn more about the 2017 NBOA Annual Meeting>>  Please feel free to spread the word so others may benefit from these helpful professional development sessions.
AAFCPAs is a proud member of NBOA, where the nation’s independent school leaders gather to promote best practices and standards of excellence across all business operations, including finance, admissions, human resources, information technology and facilities.

About the Authors

John Buckley CPA
John has been successfully serving AAF clients for over 20 years. He has extensive experience with the audits of diverse associations, educational institutions, and other community-based agencies. John specializes in working with nonprofit organizations that are subject to federal, state, and other regulatory requirements. John is AAF’s Educational Services Division Leader, which includes services to independent schools, charter schools and Charter Management Organizations (CMOs), colleges, education services organizations, Chapter 766 schools, and other educational institutions. He has extensive experience with these types of organizations, including working with capital campaigns, financing agreements, and charter school replication.
Thomas Muldoon CPA
Tom specializes in providing assurance, tax, and business consulting services to sophisticated nonprofit organizations, including: multi-service human & social service organizations, early education and care (EEC) agencies, independent schools, Massachusetts Chapter 766 schools, and higher education institutions. Tom specializes in audits in accordance with generally accepted auditing standards, Government Auditing Standards, Uniform Guidance and program-specific audits, as well as the Massachusetts Uniform Financial Report (UFR). Tom is a member of AAFCPAs’ Revenue Recognition Task Force, providing consulting solutions to clients for the efficient and effective implementation of the new ASU, including: assessing the impact of the new standards, and guidance throughout the transition process.

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