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Revenue Recognition For NFPs

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

Overview

  • Overview: ASU 2014-09, Revenue from Contracts with Customers
    3 mins
  • Revenue Recognition: Contribution VS. Exchange Transactions
    17 mins
  • The First Test: Contributions VS Reciprocal Transections
    31 mins
  • Case Study 1: Federal Grants
    44 mins
  • Applicability and Effective Dates
    62 mins

Course Description

Financial Accounting Standard Board completed the change in the revenue recognition in not-for-profit contribution and grants in the year 2018. This was continued in line with revenue recognition started in the year 2014 with ASU 2014-09 and continued four years later with ASU 2018-08. 

This Online CPE webinar for CPAs covered key topics:

  • Key points of ASU 2014-09
  • Exchange versus contribution transactions
  • Detailed understanding of ASU 2018-08 including case studies

Benefits

  • Refreshed look at ASU 2014-09
  • In detail understanding of ASU 2018-08
  • Deeper dive into ASU 2018-08 with numerous case studies and 
  • Practical understanding to apply revenue recognition standards in all types of organization 

The speaker, Lucas LaChance, is a Texas Society of CPAs Rising Star Award-winning experienced auditor, director, board member, manager, and publisher with more than 15 years of leadership experience in external audit and internal audit with an emphasis on risk-based (COSO) audit approaches. This is a must webinar for all the CPAs. 

Learning Objectives

  • To identify the components of the 5-step method to revenue recognition
  • To distinguish between exchange and contribution transactions
  • To clarify the fundamentals of ASU 2018-08 and its applicability to an organization
  • To walk through a series of case studies implementing ASU 2018-08

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeeper
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Pros

Testimonial

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