- Hosting Speaking
- Recording: Higher Education Virtual Conference
CLA hosted our second annual Higher Education Virtual Conference on February 20. This intensive half-day session provided insight to help you navigate the changing world of higher education.
Learn how institutions can use financial modeling intelligence to analyze alternative operational and capital initiatives as part of their integrated planning process and how to align planning with resource allocation and assessment to improve outcomes, use financial modeling intelligence to guide planning efforts and influence resource allocation decisions, and investigate various ways to apply financial modeling in support of planning at your institution.
- Explain why financial modeling is important to institutions
- Review best practices in creating financial models
- Identify how costs of institutions can be understood in relation to revenue both historically and prospectively
Speakers: Leah Lindstrom, Rich Wagner (President of Dunwoody College of Technology)
Webinar recording timestamp: 0:04:05 – 1:06:27
The close of fiscal year 2019 finally saw the formal inclusion and requirement of GLBA compliance as part of the student financial aid audit within the 2019 compliance supplement.
After various communication as to whether the Gramm-Leach-Bliley Act (GLBA) would be included as part of the student financial aid audit, the requirement was included in the 2019 compliance supplement. This session will describe the latest information on the specifics of the GLBA requirement, highlight what is include in the compliance supplement and provide actionable strategies to manage compliance efforts and reduce the likelihood and impact of a finding.
- Outline GLBA’s specific requirements as they relate to the higher education industry
- Identify what is required in the 2019 Compliance Supplement as it relates to Student Financial Assistance and what could potentially be included in the future
- Describe the GLBA risk assessment process and key steps required in the risk assessment
Webinar recording timestamp: 1:06:27 – 2:06:40
The audit for many is a necessary evil. It takes many hours of preparation, fielding questions and chasing down open items. Deirdre Hodgson has been through many audits and has learned best practices that will make your audit process one to take advantage of. Hear where things can go wrong in the process and how to make them right. 1) planning and preparation 2) fieldwork 3) wrap up and board reporting.
- Explain the audit process
- Review best practices in each stage of the process
- Identify how to create a collaborative approach with your auditors
Speakers: Deirdre Hodgson
Webinar recording timestamp: 2:06:40 – 3:09:16
Several soon-to-be-implemented standards will be reviewed, along with implementation issues that may arise for preparers due to the various standards’ requirements. GASB 84 and 87, on Fiduciary Activities and Leases, respectively, will be covered, along with several other, perhaps less impactful, new standards.
- Recognize the provisions of recently issued GASB standards
- Identify the impact on higher education financial reporting
- Review upcoming proposed GASB activity
A timely accounting update for private colleges and universities with the focus being ASU 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made and ASU 2014-09, Revenue from Contracts with Customers along with a look at Accounting Standards Updates applicable to higher education.
- Describe technical and compliance requirements of the revenue recognition standard (ASC 606) and lessons learned from implementation
- Describe technical and compliance requirements of the grants and contributions standard update (ASU 2018-08) and lessons learned from implementation
- Review recent accounting standards and updates issued by FASB
- How Financial Modeling Contributes to Financial Strength
- GLBA Requirements for Higher Education Institutions and an Introduction to Risk Assessments
- The Audit: Stressful and Adversarial Process or Educational and Collaborative Opportunity?
- 2020 FASB Update
- 2020 GASB Update
- Higher Education Virtual Conference Main Session: Financial Modeling, GLBA and The Audit
- Breakout Session: 2020 FASB Update
- Breakout Session: 2020 GASB Update