The current environment could be having an enormous impact on accounting and financial reporting for all entities, including nonprofits. This course provides insights into the most critical disclosures related to liquidity, accounting uncertainty, and going concern for nonprofits.

Major Topics:

  • Required disclosure related to liquidity and other significant uncertainties for fair presentation of financial statements
  • Evaluating the need for going concern and other uncertainty disclosures in the current environment

Who Should Attend:
Anyone responsible for preparing or attesting upon nonprofit financial statements.

Learning Objectives
  • Discover and describe the importance of liquidity and other uncertainty disclosures in the fair presentation of financial statements.
  • Explore and explain proper evaluation of the need for transparent disclosures about uncertainty, including liquidity and going concern uncertainty.
Last updated/reviewed: March 23, 2025
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Learning Objectives0:44
  General Disclosures17:14
  Liquidity Disclosures21:58
  Going Concern-Management and Auditors Responsibility22:06
  Impact on Audit and Attest Reports9:10
  Focus on Asset Impairment and Other Valuation30:26
CONTINUOUS PLAY
  Liquidity and Uncertainty Disclosures for Nonprofits1:41:38
SUPPORTING MATERIAL
  Slides: Liquidity and Uncertainty Disclosures for NonprofitsPDF
  Liquidity and Uncertainty Disclosures for Nonprofits GlossaryPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam