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Not-for-Profit Accounting Update - 2023

Total Credits: 4 including 4 Accounting (Governmental) - Technical

Average Rating:
Accounting and Auditing |  ACPEN Industry Institute
Melisa F. Galasso
Course Levels:
4 Hours



The Not-for-Profit Advisory Committee (NAC) has been meeting with FASB to discuss the impact of various standards on the nonprofit community. In this course, we will explore the work of the NAC and the impact they've had. We then transition to the Accounting Standards Updates (ASUs) issued by the FASB that are impacting nonprofit entities, including a deep dive into the leases standard which is effective for many nonprofits this fiscal year. We will close with a look at common deficiencies found in grant accounting.

Basic Course Information

Learning Objectives
  • Recall the impact of ASUs on nonprofit organizations
  • Recall the activities of the nonprofit advisory committee
  • Identify the financial reporting impact of Topic 842, Leases
  • Identify common deficiencies in grant accounting

Major Subjects
  • Topic 842
  • Leases

Course Materials


Melisa F. Galasso's Profile

Melisa F. Galasso Related Seminars and Products

Founder and CEO

Galasso Learning Solutions LLC

Melisa Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical acconting and auditing topics, including not-for-profit and governmental accounting. She also supports essential professional development, audit level training, and train the trainer efforts. Melisa is a Certified Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA’s Board of Directors. She previously served on the AICPA’s Technical Issues Committee (TIC) and is a past-Chair of the NCACPA’s A&A committee. Melisa also authors the AICPA’s State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.


Additional Info

Basic Course Information


Prior experience with NFP financial reporting

Advanced Preparation


Designed For

Ideal for practitioners and members in industry responsible for accounting and financial reporting for nonprofit entities

Original Recording Date


Course Developer

Galasso Learning Solutions LLC


Date Added to Catalog


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199). 

Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.7

Total Reviews: 17


Patricia F

"Facilitator communicates very hard subjects well."