dives into accounting and tax developments from 2017 and their impact on the nonprofit affordable housing sector moving into 2018.
Presenters Dave Conway and Dan King explain significant accounting standards issued in 2017, the status of several FASB projects currently in process, and potential impacts of the Tax Cut and Jobs Act on nonprofit organizations, including:
• Definition of a business
• Going concern
• Revenue recognition of grants and contracts
• Proposed auditors’ report changes
• Other FASB projects
• Section 199A: the 20% deduction for qualified business income
• Section 163(j): the limitation on business interest
Presenters: Dave Conway, Partner, Novogradac & Company LLP; Dan King, Senior Manager, CohnReznick
Learning Objective: To understand recent accounting and auditing guidance and its relevance to nonprofit affordable housing developers
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