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.
Affordability & 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.