Events
Details
Nov 1, 2018
11:30 am - 1:00 pm
VonLehman CPA & Advisory Firm
810 Wright's Summit Parkway
Suite 300
Ft. Wright, Kentucky 41011
Available around building
Related Events
- Nonprofit Lunch & Learn - Strategies to Establish a Successful Recurring Donor Program
- Nonprofit Lunch & Learn - Social Media Best Practices
- Nonprofit Lunch & Learn - Strategies for Structuring Your Organization's Development Department
- Governments: Understanding Your Financial Statements & Fiduciary Responsibility
- Nonprofit Lunch & Learn - Tips on How to Plan for Successful Events
- Volunteerism: How To Keep Them Engaged
- Nonprofits: Revenue Recognition Update
- Nonprofits: Revenue Recognition Update (Indianapolis)
- Networking: How to be the Voice of Your Nonprofit
- Engaging Young Professionals to Be Your Nonprofit's Biggest Advocate
- Nonprofits: How Will Revenue Recognition Affect You? (Indianapolis)
- Procurement Update: Guidance for Purchases Made with Federal Funds
- Nonprofits: Successful Employee Engagement and Retention
- How to Detect and Prevent Fraud (Forward Thinking Seminar Series - Indianapolis)
- Fraud, Title IX, First Amendment: The Uncovered Risk within Greek Organizations
- How to Detect and Prevent Fraud (Forward Thinking Seminar Series)
- Nonprofits: Are You Prepared for Upcoming Changes in Financial Reporting?
Nonprofits: How Will Revenue Recognition Affect You?
Download here!
Nonprofits face many challenges in recognizing their revenue. The release of the new Revenue Recognition Standards (Topic 606) will significantly affect revenue recognition practices for most organizations. The change in this standard has forced many organizations to re-evaluate their approach to how they recognize revenue. The changes for many organizations were clear, however, there was a gray area for nonprofits regarding contributions, grants and contracts. As a result of this uncertainty, FASB issued Topic 958.
During the presentation, VonLehman's Stephanie Allgeyer and Colleen Swanson will cover:
- 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
Agenda
11:30-11:50 - Registration/Networking/Lunch
11:50-12:00 - Introductions/Lunch
12:00-12:50 - Presentation
12:45-1:00 - Q/A
Eligible for 1 hour of CPE.
