Description
Part 2 of a 2-part series is an overview of GAAP requirements for nonprofit organizations and will help you become proficient in nonprofit financial reporting. This session focuses on revenue recognition.
Presenters - B. Renee Ordeneaux
Designed For
Designed For: CPAs, auditors, accountants and financial professionals in nonprofit organizations
Role Level - Manager/Senior Manager; Director; Executive/VP; Sole Practitioner
Objectives
- Identify the differences between contribution and exchange revenue.
- Consider the application of the credit loss standard (CECL) to non-profits with earned revenue
- Distinguish between restrictions and conditions.
- Recognize factors to consider in applying the five-step revenue recognition model within a nonprofit.
- Learn about revenues unique to nonprofit organizations, including agency transactions and split-interest arrangements.
Highlights
- Pledges and contributions
- Restrictions and conditions
- Special concerns with governmental funding
- Donated goods and services
- Special events
- Revenues earned through sales and services to customers, including the application of CECL
Advanced Prep
None
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Leaders
CALCPE Panel
No Biography Available