Higher Education Accounting Workshop and Key Performance Measures Workshop

Transcription

1 Higher Education Accounting Workshop and Key Performance Measures Workshop St. Louis Airport Marriott May 18 and 19, 2015 Sponsored by the Central Association of College and University Business Officers (CACUBO) For more information contact the CACUBO Committee Chair: Karen Losekamp, AVP University of Cincinnati (513) Learning Objectives This workshop will give participants an overview of college and university accounting concepts as well as an overview of the basic format used by public and private institutions in the presentation of their financial statements. Recent changes by GASB and FASB to accounting standards and their anticipated effects on the financial statements of colleges and universities will be discussed in separate concurrent sessions. Participants will be encouraged to discuss current relevant accounting issues related to the practical implementation of accounting and reporting standards for colleges and universities. Hot topics

2 such as The Affordable Care Act and the impact it has on University practices, A133 Updates and Fraud will also be discussed. NEW THIS YEAR: A new General Session will focus on IPEDS expense classification. Integrated PostSecondary Education Data System (IPEDS) is the primary source for data on colleges and universities. Also included in the General Session, we will feature higher education institution Controllers leading discussions on specific scenarios and their approach to those scenarios followed by Q&A time. The afternoon of day two will provide participants with a choice between a session providing hands-on experience calculating and interpreting key performance measures using the financial statements of the participants own institutions or reviewing GASB Small Business Cases. At the end of the key performance measures session, participants will be able to measure and interpret financial measures that provide meaning to financial data and help determine an institution s level of success. Participants in the GASB Small Business Cases session will be able to apply the accounting concepts and recent changes discussed in the first day and a half to small business case scenarios, including generating appropriate accounting entries, determining proper financial statement presentation and crafting financial footnote disclosures. Schedule (Agenda and workshop leaders are subject to change) Monday, May 18, :45am-8:30 am Registration and Continental Breakfast 8:30 am-11:50 am Concurrent Sessions: GASB or FASB 11:50 am-12:45 pm Lunch 12:45am-2:15 pm Concurrent Sessions: GASB or FASB 2:25 pm-4:30 pm General Session IPEDS Expense Classification 4:30 pm-6:00 pm Attendee Networking Event, sponsored by RubinBrown Dinner on Your Own Tuesday, May 19, :45 am-8:15 am Continental Breakfast 8:15 am-11:35 am Concurrent Sessions: GASB or FASB 11:45 am-12:40 pm Lunch 12:40 pm-4 pm Concurrent Sessions: Key Performance Measures or GASB Small Business Cases NOTE: Participants in the Key Performance Measures Session must bring two years of their audited financial statements (including component unit financial statements if applicable) and a calculator with them. Participants in the GASB Small Business Cases Session should bring an IPad or laptop with them in order to manipulate spreadsheets associated with the Small Business Cases.

3 Workshop Leaders Public Institution (Governmental Accounting Standards Board session) & GASB Small Business Cases Dr. Mary Fischer, currently serves as a full professor in Accounting for the College of Business and Technology at The University of Texas at Tyler. Dr. Fischer has published over fifty research papers regarding cash flow recognition, financial accounting, accounting education, auditing and financial management of not-for-profit organizations and is a frequent local and national seminar speaker regarding FASB and GASB GAAP Updates. She is the past president of Southwest Decision Science Institute, Southwest American Accounting Association, American Accounting Association Government and Nonprofit Section. Dr. Fischer serves as an advisor to the FASB, GASB, as well as the NACUBO Accounting Principles Council and an array of not-for-profit organizations nationwide. She was awarded the Daniel D. Robinson and the Professional Development and Scholarship awards by NACUBO for her outstanding contributions to the college and university national sector. Private Institutions (Financial Accounting Standards Board session) & Key Performance Measures (Public & Private Institutions) Michelle Horaney, CPA and partner at McGladrey LLP, is a public sector specialist providing audit and consulting services to the higher education industry. She works with community colleges and private and public colleges and universities throughout the country. Michelle is involved in teaching professional education courses on a national and regional level. These courses include yellow book qualified seminars, various higher education programs and FASB and GASB implementation programs. McGladrey LLP, is the fifth largest U.S. provider of assurance, tax and consulting services, with nearly 6,500 professionals and associates in more than 70 offices nationwide. McGladrey is a licensed CPA firm that works with nearly 500 public and private educational institutions throughout the country.

4 Cindy Berg, CPA and senior manager at McGladrey LLP, is a public sector specialist providing audit and consulting services to the higher education industry. She works with both private and public colleges and universities throughout the country. Cindy is involved in teaching professional education courses on a national and regional level including those on FASB accounting standard updates, benchmarking and student financial aid compliance. McGladrey LLP is the fifth largest U.S. provider of assurance, tax and consulting services, with nearly 6,500 professionals and associates in more than 70 offices nationwide. McGladrey is a licensed CPA firm that works with nearly 500 public and private educational institutions throughout the country. General Session Integrated PostSecondary Education Data System (IPEDS) Brent Stevens, CPA and partner in RubinBrown s Assurance Services Group and the leader of the firm s College and University Industry Group. Brent also has international accounting experience, which he gained when working in England through his participation in the Baker Tilly International Secondment Program. Brent has experience working with colleges and universities regarding traditional audit services, NCAA compliance services, student financial assistance and other federal program compliance services, business process improvement reviews and management consulting projects.

5 Accommodations The Marriott St. Louis Airport Hotel (10700 Pear Tree Ln., St. Louis, MO 63134; 314/ ) is located next to the Lambert International airport. On-site parking is available for a fee. The St. Louis Airport Marriott provides complimentary shuttle service to and from Lambert airport. Reservations can be made via the CACUBO website, Downtown St. Louis is just a short 15 minute drive or accessible via the MetroLink, the greater St. Louis light rail transit system. To learn more about the area attractions, visit St. Louis official tourism site, Registration Fees 2 Day Workshop (GASB or FASB Sessions, Key Performance Measures or GASB Small Business Cases) Before May 4, 2015 CACUBO members: $425; nonmembers: $600 After May 4, 2015 CACUBO members: $600; nonmembers: $725 How to Register To register, visit and click on Higher Education Accounting Workshop. Early registration is encouraged as enrollment may be limited. Refunds and Cancellations Refund requests ed to [email protected] before May 3, 2015 will be honored, less a $50 processing fee. No refunds will be made after that date. Dress Code Casual attire is recommended for the entire workshop.

6 Continuing Professional Education Credit CACUBO is pleased to sponsor continuing education credit for the higher education community. Participants can earn up to 16 hours of credit for attending the Higher Education Accounting and Key Performance Measures Workshop. Effective December 2013, CACUBO 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. Complaints regarding registered sponsors may be addressed to NASBA, 150 Fourth Ave, # 700, Nashville, TN or its website: The GASB and FASB sessions including the IPEDS session are recommended for up to 12 Accounting credits; Key Performance Measures is recommended for 4 Management Advisory Services credits; GASB Small Business Cases is recommended for 4 Accounting credits. Certificates of completion will be available approximately 2 weeks after the meeting and will be distributed via .