On-Demand | Originally broadcast April 7-8, 12-13, 2021 | See Schedule for Recordings Included
This online conference for advanced-level accounting and finance professionals offers the latest information on trends and best practices in financial accounting and reporting, managerial analysis, and leadership issues for all types of institutions. You'll hear directly from panelists in real-time, earn CPE credits, have the ability to ask questions, and have access to the recordings from the selected sessions below.
Each of the sessions below will be available for on-demand viewing; however, only attendees who participate in the live-streaming can earn credits. Use the full schedule below to plan your participation and learning path during this online event. For concurrent sessions, choose one to attend live and earn CPE credit. You will be able to view recordings of all sessions later as desired. Each session is 60 or 75 minutes and each individual can earn up to nine (9) CPE credits per the list below. All times are eastern.
What You Will Learn
NACUBO’s professional development programs are designed to deliver the skills, concepts, and best practices for success to individuals in the business of higher education. The following course information is provided to help you determine the best learning experience to meet your needs
Demonstrate an awareness of preferred industry practice.
Recognize how Federal legislative issues will impact the business office.
Review insights about new accounting guidance on the horizon.
Who Should Attend
Associate Vice Presidents of Finance, Administration, or Budget
Chief Financial Officers
No prerequisites and/or advance preparation required.
Estimated 16 CPE Credits in Accounting, Accounting Governmental, Auditing, Finance, Information Technology, Specialized Knowledge and Taxes.
NACUBO 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 www.nasbaregistry.org.
Registration Assistance: 877.797.7698 or email@example.com
Innovation can be a byproduct of watershed moments and extraordinary catastrophes. No matter how painstakingly obvious the need for change appears, people can unintentionally get in the way of progress. This Keynote challenges and provocatively immerses the audience in ways that can help individuals and organizations embrace originality, push through resistance, achieve innovation, and meet objectives.
This session will highlight the latest news, headlines and hot topics impacting the higher education industry. When presenting this topic previously, audience members have been very highly engaged - sharing their own campus' challenges and best practices in relation to the news stories. Panelists will highlight pervasive higher education headlines and hot topics since the COVID national emergency began (and how they have evolved), campus actions that relate to headlines, dispel, or mitigate what’s in the news, panel discussion addressing headline themes or specific stories, how colleges stayed ahead of general public concerns, etc.
Hear how a variety of regulatory, economic, and audit topics are impacting colleges and universities. Speakers touch upon charitable giving, endowment performance, audit committee concerns, and the impact of COVID. Related to all of the above are optimizing accounting operations and financial reporting, new audit reporting standards, and regulatory challenges around pandemic related aid and financial responsibility standards.
Session Duration: 75 minutes; 2:15 - 3:30pm ET
21st Century Internal Audit: Leveraging Internal Audit to Achieve Your Goals
When you think of internal audit, do you think primarily of internal controls and testing? Sure, that’s the historical approach to internal audit, and, yes, controls and compliance are important. However, there is much more to a modern day approach to internal audit that is more comprehensive, more creative, and leverages artificial intelligence and key performance indicators. Learn how a 21st Century internal audit strategy can help your organization achieve its business goals. Utilized in a more holistic manner, internal audit can be your “Swiss Army Knife” resource to reduce risks, strengthen controls and enhance performance efficiency and effectiveness.
The response to COVID-19 has significantly changed the workplace: where and how we work, lead staff, and interact with colleagues. Are these temporary changes or is this the start of something new? Business office leaders at four institutions discuss how they responded to the instant shift to working remotely, address ongoing success, opportunities, and challenges, and their ideas about the near-and longer-term future work environment.
As the nation continues to wrestle with the COVID-19 pandemic, higher education business officers face an array of challenges stemming from the pandemic and from long-standing changes in the sector. In this presentation, a financial advisor that exclusively focuses on higher education will discuss the market’s view of the higher education sector, including key challenges and strategic implications for consideration.
Session Duration: 60 minutes; 11:15am - 12:15pm ET
This presentation will focus on the implementation of GASB 87 (Leases) and the challenges Universities can expect to face. The presentation will provide a brief overview of the standard, common challenges universities will encounter, a deep dive into the financial reporting implications, and finally a case study of Michigan State University's implementation efforts to demonstrate these topics in a complex university setting.
Session Duration: 75 minutes; 12:30 - 1:45pm ET
What, No Bagels? Lessons Learned in a Remote Audit ‐ The Do's, Don'ts and What's Next
The pandemic required companies and organizations across the country to adjust their business practices. Some of the adjustments made by business organizations most likely will continue into the future, while others we will gladly say "good riddance" to. This holds true for the year-end financial reporting and external audit process. The purpose of this presentation is to identify best practices of the pandemic financial reporting and audit process, how to improve upon them into the future, and to say good-bye to practices that should not be repeated post-pandemic.
The automation spectrum is transforming the finance organization ‐ from macros & scripts executing simple tasks to artificial intelligence mimicking human intelligence. In this session, you will hear how NYU developed a robotic process automating the grant close‐out process. An overview of the automation spectrum, a description of robotic process automation, criteria for selection of business processes, NYU’s business case for the pilot project, lessons learned, and next steps will be covered.
Explore the current state of play in the nation’s capital. Understand what the new administration means for colleges and universities, and whether lawmakers might consider reauthorization of the Higher Education Act. Tax legislation as well as regulatory actions high on the list will also be covered.
Hear the latest developments in U.S. GAAP affecting NFPs, including newly effective standards (ASUs) and FASB projects in process. The presentation will focus on areas of interest to colleges and universities such as grants, contributions, federal coronavirus aid, and implementation issues brought to FASB’s attention on NFP reporting, revenue recognition, leases, and more.
Pull back the due process curtain and see what lies ahead. Speakers explore standards that will be implemented soon and active projects such as financial reporting, including a subsidy / non-subsidy approach to reporting financial performance for BTAs, revenue and expense recognition, financial statement disclosures, and interpretations around federal coronavirus aid.
Session Duration: 75 minutes; 12:30 - 1:45pm ET
Demo Session: Using RPA and Software to accelerate GASB 87 compliance
Join KPMG and Planon Software to see a demonstration of KPMG’s cognitive contract management (CCM) tool and Planon’s GASB 87 Software. The CCM tool utilizes robotic process automation to evaluate whether contracts meet the revised definition of a lease and to extract salient lease terms from the contract documents to Planon’s software upload templates. The CCM tool can read documents in different formats, including hard copy scanned contracts, and combined with Planon’s software can accelerate the time it takes to implement and comply with GASB 87.
Financial sustainability of college athletics is a topic being analyzed by the Knight Commission, the United States Olympic and Paralympic Committee and the NCAA’s Presidential Forum. These discussions come when most athletic departments are seeing record deficits from COVID and the disparity between the larger and limited resourced programs continues to grow. Demands on student-athlete health and safety and continual litigation add to the dilemma. What does the future look like and what are the implications for higher education?
This presentation will share methodologies for using data on instructional economics to account for academic program portfolios. We will show how to gather, integrate, display, and use program and course‐level data on revenue, cost, and margin to make better‐informed decisions about which programs and courses to start, stop, sustain, or grow. We will also describe how to run a participative process that combines data with the judgment of administrative
and academic leaders to ensure sound decisions and minimize resistance. To close, we will show how predictive models can provide activity, cost, and revenue estimates for various program planning scenarios.
Although the divide is narrowing, higher education looks much different to people off the campus than on it. In this presentation we'll discuss how the world sees colleges and universities, and some of the reasons why. Jon Marcus, higher education editor, has written about higher education for the Washington Post, USA Today, Time, the Boston Globe, Washington Monthly, is North America higher-education correspondent for the Times (U.K.) Higher Education magazine, and contributed to the book Reinventing Higher Education.
Learn what’s new in tax developments that impact higher education, including legislative developments and IRS enforcement measures. The panel will also review unrelated business taxable income (UBTI), compensation, fringe benefits, federal COVID assistance, the endowment tax, charitable contributions, and related reporting requirements.
COVID 19 has had a significant impact on F&A Cost Rate Proposals and related recoveries specifically in the areas of treatment of research expenses, F&A base years, environmental health and safety concerns and facilities costs, salary charging to sponsored projects, effect of off site research, personnel lay offs to name a few. It is important to understand the changes so that strategic planning can be done in these difficult financial times for colleges and universities. This presentation will offer an understanding of what COVID expenses are and how to treat them to maximize your F&A rate, the changes to charging research salaries to sponsored projects and the related treatment of space, and the latest Uniform Guidance updates.
Given at least two-years of reporting under FASB’s updated guidance…presenters and judges take a look at institutions’ financial statements. Have institutions used the new model as an opportunity to streamline disclosures? Do colleges clearly communicate operating performance? Are governing board designations clearly displayed on the face of the SOA or described in the notes? Do statement readers understand investments and endowments? What about perpetual, time, or purpose restrictions? Presenters and judges weigh in. There will be no holding back on observations and insight.
GASB is revisiting their revenue and expense framework. A Preliminary Views document explained categorizing and recognizing certain revenue and expense transactions. Join a panel of your peers who participated in GASB’s field test to discuss discoveries and challenges related to this new framework and GASB staff responses to date. Panelists will also summarize feedback provided to the board from higher education and other governmental entities and help the audience understand where this effort will lead.