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Step 5 of 5: Recognize Revenue as Each Performance Obligation is Satisfied

Nonpublic organizations must be in compliance by Jan. 1, 2019—or July 1, 2019 for those with a June 30, 2018 year end.


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Congratulations—you’ve worked through the end of the standard. Revenue can be recognized once the nonprofit completes its performance obligation(s).
 
However, nonprofits can’t rest just yet. Now that you know how to recognize revenue, you’ll need to assess the impact and implement the changes throughout the organization. This includes amassing the right people, processes, and technology.
 
Luckily, you don’t have to go about it alone. At BDO, our nonprofit professionals can help you prepare for the new standard, no matter where you are in the compliance process.
 

 

Schedule a Meeting Today

To learn more about how ASC 606 affects your organization, or to set up a meeting, please complete this short form:

 

  

  

  

  



 

CONTACT US



Laurie De Armond
Partner and National Co-Leader of BDO’s Nonprofit & Education Practice
703-336-1453 | ldearmond@bdo.com



Adam Cole
Partner and National Co-Leader of BDO’s Nonprofit & Education Practice
212-885-8327 | acole@bdo.com



Lee Klumpp
National Assurance Partner, BDO Institute for Nonprofit ExcellenceSM
703-336-1497 | lklumpp@bdo.com



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