Revenue Recognition Implementation for NFPs
This course reviewed the definition of Public Business Entity and its impact on Not-for-profit organizations that have Conduit Debt Obligations. Specifically, presenters reviewed the impact on accelerated effective dates for ASU and expanded disclosure requirements. Presenters also reviewed the core principles of new revenue recognition standard and its impact on not-for-profit organizations. Finally, the presenters closed 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. This webinar focused on the process of implementing the standards in an efficient and effective manner.