This fast-paced course will allow the attendees to gain a greater understanding of how the changes presented in ASU No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, will impact both the auditee as well as the outside auditors/accountants. In addition, the session will look at the most common vexing issues facing not-for-profit auditees as well as the outside auditors/accountants. This hands-on session will provide meaningful explanations and examples to those responsible for the preparation of not-for-profits financial statements and solutions to these vexing issues. This session will also cover proposed Accounting Standard Updates which will potentially impact on not-for-profit organizations and their personnel as well as auditee as well as the outside auditors/accountants. Several case studies will be used to apply the material covered in this session.