2026/27 Annual Update for Governments and Not-for-Profits

View Bio

Instructor

Melisa
Galasso

View Bio

Melisa Galasso

Bio

Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with over 15 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not for profit and governmental accounting.

Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.

Melisa earned the Association for Talent Development Master Trainer™ designation and is in the process of completing the rigorous requirements to become a Certified Professional in Learning & Performance (CPLP).

Melisa’s passion for instructional design is one of the differentiators that sets her apart from other CPE providers. She serves on the AICPA’s Technical Issues Committee, has had leadership roles on various A&A committees, and serves on the VSCPA’s Board of Directors.

She was honored as “40 under 40” — by CPA Practice Advisor — in 2017 and 2018, was named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.

Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia.
She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.

This comprehensive annual update brings together key accounting and auditing developments affecting governmental and not-for-profit organizations. The course integrates recent standard-setting activity, emerging global frameworks, and major compliance updates to provide a well-rounded view of changes impacting financial reporting and audit requirements. Participants will begin with an overview of recent accounting developments affecting not-for-profit organizations, including Accounting Standards Updates issued by the Financial Accounting Standards Board and an introduction to the International Non-Profit Accounting Standard (INPAS). Emphasis is placed on understanding the purpose of INPAS and how it compares conceptually to U.S. GAAP for not-for-profit entities. The course then shifts to governmental accounting developments, covering recent pronouncements issued by the Governmental Accounting Standards Board, including GASB Statements No. 103, 104, and 105, along with a high-level overview of active GASB exposure drafts and projects. Participants will gain insight into how these changes affect financial reporting, disclosures, and communication with governing bodies. Finally, the course addresses recent developments affecting Single Audits, including the 2024 Uniform Guidance overhaul, updates to Appendix B of the AICPA GAS/Single Audit Guide, and recent guidance issued through the Office of Management and Budget (OMB). Reporting changes related to SAM.gov are also discussed. Designed for auditors, preparers, and financial leaders working with governmental and not-for-profit entities, this course helps participants understand how recent accounting and auditing changes intersect-and what to monitor as requirements continue to evolve. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives

After attending this presentation, you will be able to...

Recognize the impact of recent accounting standards affecting not-for-profit organizations.
Identify key elements and objectives of the International Non-Profit Accounting Standard (INPAS).
Recall the impact of recent GASB pronouncements on governmental financial reporting.
Identify new and updated disclosure and reporting requirements affecting governmental entities.
Recognize changes affecting Single Audits resulting from the 2024 Uniform Guidance and related guidance.
Recall key developments from recent exposure drafts, implementation guidance, and regulatory updates affecting governments and not-for-profits.

Major Topics

The major topics that will be covered in this course include:

Key accounting and auditing developments affecting governmental and not-for-profit organizations.
Accounting Standards Updates issued by the Financial Accounting Standards Board.
The purpose of INPAS and how it compares conceptually to U.S. GAAP for not-for-profit entities.
Recent developments affecting Single Audits, including the 2024 Uniform Guidance overhaul, updates to Appendix B of the AICPA GAS/Single Audit Guide, and recent guidance issued through the Office of Management and Budget (OMB).

CPE Credits Available

4 CPE Credits

2: Accounting (Governmental)
2: Auditing (Governmental)

Things to Know About This Course

Course Level

Update

Professional Area of Focus

Prerequisites

Prior experience with nonprofit or government accounting or auditing

Advanced Preparation

None

Intended Audience

Accountants and Auditors

Provider

CPA Crossings

Register For This Event

ASCPA Member

$ 149 149
Join
ASCPA Non-Member

$ 199 199

Your Price

Please login to register.