Today will be Day #2 of this Non-Profit Accounting Conference. Yesterday, I was the only non-CPA in the room. We studied among other topics, "Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others." Easy! Just take 10% probability of default based on history of guarantees to others and multiply by the present value of $1 table at 4% risk free rate.
I think that there will be more non-profit professionals in the room today and fewer auditors.
The highlight of my day was having my first radio show of the summer! It was great despite it being open-station night for prospective DJs and being interrupted for an on-air band interview. The band seemed a little drunk. I played Wayne Newton.