BDO nonprofit professionals will discuss the lessons learned from organizations that have recently implemented the new Accounting Standards Update related to Revenue Recognition.
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Navigating Revenue Recognition for Nonprofits - What Have We Learned From Other Organizations?

March 28, 2019
1:00 PM to 2:40 PM EST

Gabe Foster
(704) 887-4142
Email
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844-580-6963

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(BDO Employees):
888-236-9111
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  • Summary
  • CPE Information
  • Presenters
We will discuss the lessons learned from organizations that have recently implemented the new Accounting Standards Update related to Revenue Recognition. In recent years, FASB has issued, Not-for-Profit Entities: Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made (Topic 958) and Revenue from Contracts with Customers (Topic 606). These standards represent a significant change in the accounting principles that nonprofits use to discuss and recognize revenue. Recent changes also affect virtually all nonprofit organizations regardless of their size and type. The standards that apply to all nonprofits became effective in 2019. Public companies, including some nonprofit organizations with tax-exempt debt, implemented these standards in 2018.   
Lee Klumpp, National Assurance Partner, Nonprofit & Education Practice
BDO USA, LLP
 
Amy Duffin, Assurance Director, Nonprofit & Education Practice
BDO USA, LLP
Webinar Learning Objectives: 
  • Identify key changes to the Accounting Guidance for Contributions Received and Contributions Made and Revenue from Contracts with Customers and the effects on nonprofit organizations.
  • Describe the impact due to the changes in the guidance on an organization and the effect on its financial statements;
  • Describe the relevant transition and implementation considerations that nonprofit organizations need to be aware.
Delivery: The webinar will be delivered via the BDO Online CPE Network
Prerequisites: None
Advanced Prep: None
Credits: 2 CPE credits in the field of Accounting
Program Level: Overview
BDO USA, LLP 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