Revenue Recognition Implementation for NFPs
This course will review the definition of Public Business Entity and its impact on Not-Profit-Organizations that have Conduit Debt Obligations. Specifically, we will review the impact on accelerated effective dates for ASU and expanded disclosure requirements. We’ll also review the core principles of new revenue recognition standard and its impact on not-for-profit organization. Finally, we will close with a discussion of ASU 2018-08, Not-for-Profit Entities (Topic 958), Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. We’ll focus on the process of implementing the standards in an efficient and effective manner.
- Define the term Public Business Entity and describe its impact on Not-Profit-Organizations.
- Describe the core principles of new revenue recognition standard and its impact on not-for-profit organization.
- Analyze a contract to determine if it is a contribution or exchange transaction under ASU 2018-08, Not-for-Profit Entities (Topic 958), Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.
- Patricia L. Pryor, CPA | Partner, Assurance Services | Cherry Bekaert LLP
Prerequisites | Prior experience with financial reporting for NFP entities
Advanced Preparation | None
Recommended Hours of CPE | 1 Hour*
Delivery Method | Webinar
Program Level | Update
CPE Category | Accounting (Governmental)
*Cherry Bekaert is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website. | www.learningmarket.org
Cherry Bekaert Continuing Professional Education: Statement of Administrative Policies
Complaint Resolution Policy
Cherry Bekaert will make every effort to provide the best training courses possible. In the event participants are not completely satisfied with the training course and wish to file a complaint, please contact Cate Miller at email@example.com or 704.940.2661 within 10 business days of the event. Information about the course such as date, location, instructor and nature of complaint must be provided. Complaints may also be made in writing to Cherry Bekaert LLP, 6806 Paragon Place, Suite 310, Richmond, VA 23230, ATTN: Cate Miller
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