10:00 am – 11:30 am (Eastern Time)
Not-for-profit accounting for exchange transactions can be difficult. Recent accounting standards such as Accounting Standards Codification 606 (ASC 606) can add to the complexity. All transactions with customers must be accessed using the five step approach. Within the five steps are multiple additional considerations that also need to be addressed depending on the nature of the transaction. This webinar will guide you through those five steps and help you apply them to your organization’s transactions with customers. The webinar will help you understand the differences between contributions and exchange transactions.
- You will be able to understand the difference between contributions and exchange transactions.
- You will be able to describe the 5 step approach for recognizing and measuring revenue
- You will be able to identify contracts, performance obligations and transaction prices for exchange transactions under ASC 606.
- You will be able to recognize and measure revenue for exchange transaction under ASC 606.
|Level||Intermediate||Delivery||Group Live online due to Covid-19|
|CPE(NASBA Category)||Accounting||Reviewer||Wade Tetsuka, CPA|
|CAE (Field of Study)||Administration||CPE/CAE Credits||1.5|
|Prerequisites and advance preparation needed||1 year experience in public accounting or nonprofit organization. No advance preparation required||Cost||free|
U.S Transactions Corp. 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.nasbaregistry.org