Nonprofits: Revenue Recognition Update


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Nonprofits face many challenges in recognizing their revenue. The release of the new Revenue Recognition Standards (Topic 606) significantly affected revenue recognition practices for most organizations. The changes for many organizations were clear; however, there were gray areas for nonprofits regarding contributions, grants and contracts. As a result of this uncertainty, FASB issued ASU 2018-08 which clarified revenue accounting for nonprofit grants and contributions, resulting in additional standard specifically for nonprofits. The issuance of two new revenue recognition standards can be considered cumbersome for many. Join us on Wednesday, October 23rd as we discuss best practices and understanding the new standards.

Learning Objectives:

  • Overall topic of revenue recognition for nonprofits under the new standards
  • Distinguishing between a contribution (a nonreciprocal transaction) and an exchange transaction (a reciprocal transaction)
  • Distinguishing between a conditional and unconditional contribution
  • Best practices for identifying revenue recognition


11:30-11:50 – Registration/Networking/Lunch
11:50-12:00 – Introductions/Lunch
12:00-12:50 – Presentation
12:50-1:00 – Q/A

Eligible for 1 hour of CPE.

Event Details

Date & Time

10/23/2019, 11:30 am - 1:00 pm


VonLehman CPA & Advisory Firm
810 Wright's Summit Parkway
Suite 300
Ft. Wright, KY 41011

Available around building.

Available around building.

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