2026-2027 Not-for-Profit GAAP Update -Self-Study

Overview

Stay informed on the latest developments affecting not-for-profit (NFP) organizations with this 2026 GAAP update. While the FASB hasn’t issued recent NFP-specific standards, several Accounting Standard Updates (ASUs) will significantly impact nonprofits. This session will explore these ASUs and their implications for your organization. We’ll also dive into the evolution of programmatic investments and their interaction with the Current Expected Credit Losses (CECL) standard, followed by an introduction to IFR4NPO, a global initiative aimed at creating universal financial reporting standards for nonprofits. Gain the knowledge you need to navigate these changes with confidence and ensure compliance in the evolving NFP landscape.

Highlights

Prerequisites

Prior experience with nonprofit financial reporting

Designed For

CPAs in Oklahoma

Objectives

Identify elements of the proposed IFR4NPO standards
Recall the impact of recent standard setting on programmatic investments
Recognize the impact of recent ASUs on nonprofit financial reporting

Preparation

None

Notice

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Melisa Galasso, Galasso Learning Solutions LLC

Leader Bios

Melisa Galasso, Galasso Learning Solutions LLC

Melisa Galasso, CPA is passionate about providing confidence, not just compliance as she leads Galasso Learning Solutions as Founder & CEO. Melisa is a nationally recognized authority in designing and facilitating courses on advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Since 2016, she has guided the GLS team to deliver quality in everything we do. With a far-ranging career in public accounting, academia and industry and a bachelor’s degree from Georgetown University, Melisa has built a reputation for delivering engaging, effective learning experiences for CPAs. Committed to advancing our profession, she has served on multiple committees for leading industry organizations including the AICPA and FASB, written the nonprofit accounting book, “Money Matters for Nonprofits,” and has been honored with the Top 50 Women in Accounting Award, the Rising Star award from NAWBO Charlotte, and “40 under 40” recognition by CPA Practice Advisor. In her free time, Melisa loves spending time with her family and can often be found at one of her daughter’s horse shows, supporting the arts with tickets to the orchestra, volunteering, or speaking a bit of French or Spanish on one of her treasured quarterly vacations.

Return to Top