Nonprofit GAAP – The new Revenue Recognition standard and what you need to know about it as a nonprofit
Webinar: Group live presented online due to COVID-19 || Attendance: 21 Associations || Great content and Mark’s presentation was very sooth and structured.thanks!
Click here for Recorded Webinar
(Note: CAE or CPE credits can only be granted to attendees of the group-live webinar presented online )
|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
|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
|Delivery||Group live presented online due to COVID-19|
|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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