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

 

 

 

 

 

 

 

Webinar: group live presented online  ||  Attendance: 49 Associations  ||  Reviews   ♦♦♦♦♦  || Wow, this is really great, I learned far more than reading a book! || Takeaway — Mark is a great accountant. || Great information! || I did not have a good appreciation for how detailed/complicated this issue is until this presentation. || It was a great refresher on the topic and a reminder for me of the areas I need to refocus on as my audit comes up. || I really liked the mini-quiz with response to check both on learning objectives and personal understanding. Great presentation, great speaker! || I really appreciated the non accounting assistance to an accounting class. The references and mini tests were excellent to reinforce learning.

Click here for Recorded Webinar 

(Note: CAE or CPE credits can only be granted to attendees of the group-live webinar presented online)

 

 

 

 

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.

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.
SPEAKER BIOS

Mark Robins
Partner, Aronson LLC
Mark Robins, CPA, is a Director in the Firm’s Nonprofit and Association Industry Services Group. Prior to focusing his specialization on nonprofit organizations, Mark spent time with the Employee Benefit Plan Services Group. He graduated with honors from California State University, Northridge with a bachelor’s degree in accountancy. Mark specializes in assurance and consulting services for foundations, public charities, schools and service organizations. His experience with fair value concepts, investment portfolios, federal compliance and revenue recognition issues allows him to be a valued resource for nonprofit organizations. As an active participant in the accounting profession, Mark has taught several classes on financial reporting and auditing topics. He is also extensively involved in nonprofit accounting research to advance technical compliance. In addition, Mark has contributed a number of blog posts to the Aronson nonprofit blog. Mark is a member of the AICPA.
Level Intermediate Delivery Group Internet-Based
CPE(NASBA Category) Accounting Reviewer Wade Tetsuka, CPA
CAE (Field of Study) Operations CPE/CAE Credits 1.5
Prerequisites and advance preparation needed 1 year experience in public accounting or nonprofit organization. No advance preparation required Cost $0.00

UncategorizedOct 13th, 20210 comments

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