September 7, 2016
FASB Issues New Standard for Not-for-Profit Financial ReportingFASB Issues New Standard for Not-for-Profit Financial Reporting
On August 18, the Financial Accounting Standards Board issued its new accounting standard that changes how not-for-profit organizations will present their financial statements. Although not effective until FY19 for most colleges and universities, some have said they plan to adopt the standard early.

ED Wants to Know If SFA Is Not Audited in FY16

Recent conversations point to the Department of Education’s desire to validate and understand auditor assessments of Student Financial Assistance (SFA). The AICPA informed auditors to contact School Participation Divisions if institutions do not have SFA audited in FY16.

Proposed 1098-T Reporting Changes Highlighted at IRS Meeting

During a recent meeting of the Internal Revenue Service’s Information Reporting Program Advisory Committee, IRS officials were briefed on the challenges and issues for colleges and universities identified in the recently proposed rules on Form 1098-T reporting requirements.

New FAFSA Timeline Brings Aid Deadlines into Question

ED recently asked institutions not to adjust their priority deadlines for financial aid.

Higher Education Community Expresses Concerns with Distance Education Proposal

NACUBO and 16 other higher education associations joined together in a letter to the Department of Education about proposed regulations for state authorization of colleges offering distance learning across state lines, as well as for foreign branch campuses.

NLRB Grants Students Right to Unionize

The National Labor Relations Board recently ruled that teaching and research assistants at private colleges and universities have the legal protection to unionize. The decision was in favor of a student union petition at Columbia University and overturns a 2004 ruling against graduate student collective bargaining at Brown University.

ED Issues Guidance on Third-Party Servicers

In question-and-answer form, the Department of Education clarifies institutional responsibilities and requirements for schools that enter into contracts with third-party servicers.

OMB Publishes 2016 Compliance Supplement

The Office of Management and Budget recently released the annual Compliance Supplement to its Uniform Guidance, detailing the single audits of states, local governments, and nonprofit organizations, including higher education institutions.

The ROI of Student Success: Practical Considerations for Measuring and Conveying the Financial Value of Student Support Services

Recorded on Thursday, January 12, 2017 1:00PM ET

Join us as a panel of student success and higher education policy experts share insights, best practices, and tips for assessing the value of and garnering support for effective student success initiatives.

This program is supported by Crowe Horwath.

2016 Intermediate Accounting and Reporting - Fall

October 24-25, 2016
Dallas, TX

This program is the perfect introduction for professionals just starting out in higher education accounting, as well as those looking to brush up on their technical accounting knowledge. Join us for review of endowment accounting, donor restrictions, FASB and GASB standards, and much more.


 

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Bank of America Merrill Lynch
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