W134: Nonprofit GAAP – The new Revenue Recognition standard and what you need to know about it as a nonprofit

Registration Link:  https://bit.ly/3mVFbnV  

Title W134: Nonprofit GAAP – The new Revenue Recognition standard and what you need to know about it as a nonprofit
Date Tuesday, December 29, 2020
Time 10:00 am – 11:30 am Eastern Time
Course Description 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.
Instructor Bio: Mark Robins, CPA

• Partner, Assurance Services at Aronson LLC

• Over 10 years of experience in public accounting

• Specialize in nonprofit financial reporting and auditing

• Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing

• Member of the AICPA

• B.S. degree in accounting, California State University Northridge

Level Intermediate
CPE (NASBA Category) Accounting
CAE Field of Study Administration
Prerequisites; advance preparation required 1 year experience in public accounting or nonprofit organization.  No advance preparation required
Reviewer Wade Tetsuka, CPA

Bio:  https://www.linkedin.com/in/wadetetsuka/

Delivery Group Live online due to Covid-19
CPE/CAE Credits 1.5
Cost: $0.00
Learning Objectives ·      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.


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