Nonprofit A&A Series Part 2: Revenue Recognition 2024

Overview

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.

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

Prerequisites

Nonprofit A&A Series Part 1: Financial Statement Presentation & Disclosure

Designed For

CPAs, auditors, accountants and financial professionals in nonprofit organizations

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.

Preparation

None