Events
Details
Oct 9, 2019
11:30 am - 1:00 pm
Castle Creek IV
5875 Castle Creek Pkwy N. Drive
Suite 171
Indianapolis, IN 46250
Available around building.
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Nonprofits: Revenue Recognition Update (Indianapolis)
Download the presentation here!
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 our Indianapolis nonprofit team on Wednesday, October 9th 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
Agenda:
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.
