Revenue Recognition Considerations for Not-For-Profit Entities

4.5 (356)

Alexander Buchholz, CGMA

PKF O'Connor Davies, LLP

  • CFE
  • CMA
  • CPA

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Before starting this self study program, please go through the instructional document.

Overview

  • Revenue Recognition
    4 mins
  • Disclosures
    14 mins
  • Transactions on Behalf of specified third parties
    23 mins
  • NFP Revenue Recognition Decision Process
    28 mins
  • Disclosure Considerations
    38 mins

Course Description

The new revenue recognition standards will affect not-for-profit financial reporting significantly. During this webinar, you will learn how to apply two new standards: 

  • FASB ASU 2014-09 Revenue from Contracts with Customers (Topic 606) and 
  • FASB ASU 2018-08 Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made (Topic 958). 

Learned industry experts will walk you through the new standards in this webinar. With detailed examples, you will learn when transactions are reciprocal and nonreciprocal under the new guidance. Lastly, the webinar will explain how the standards will affect recognition of amounts received under transactions that are frequently encountered in NFPs.

Key topics covered:

  • The accounting standards affecting non-profits
  • Implementing and using current authoritative literature
  • The latest issues regarding NPO mergers and NPO goodwill treatments

This webinar is designed for accountants who want to remain on the cutting edge of the most recent accounting affecting not-for-profits.

Learning Objectives

  • To review of recent accounting standards update ASU 2014-09 and 2018-08; and guides for not-for-profits
  • To recognize and implement ASU 2014-09.
  • To identify scenarios and implementation ASU 2018-08.
  • To share important points related to ASU 2014-09 and ASU 2018-08 to management
  • To share important points related to ASU 2014-09 and ASU 2018-08 to audit committees

Who Should Attend?

  • Enrolled Agent
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm

Testimonial

4.5

(356)
54%
37%
8%
0%
0%

JM

While quick-paced, being able to follow along with powerpoint pdf allowed me to go back to review recondite facts

KS

great

MS

Instructor was very confident and presented information in a professional manner.

PDN

Very Informative.

RB

Great to get new information

TG

Definitely one of the best for content.