Nonprofit A&A Series Part 2: Revenue Recognition 2024

Overview

Part 2 of a 2-part series is an overview of GAAP requirements for nonprofit organizations and will help you become proficient in nonprofit financial reporting. This session focuses on revenue recognition.

Highlights

• Pledges and contributions
• Restrictions and conditions
• Special concerns with governmental funding
• Donated goods and services
• Special events
• Revenues earned through sales and services to customers, including the application of CECL

Prerequisites

Nonprofit A&A Series Part 1: Financial Statement Presentation & Disclosure

Designed For

CPAs, auditors, accountants and financial professionals in nonprofit organizations

Objectives

• Identify the differences between contribution and exchange revenue.
• Consider the application of the credit loss standard (CECL) to non-profits with earned revenue
• Distinguish between restrictions and conditions.
• Recognize factors to consider in applying the five-step revenue recognition model within a nonprofit.
• Learn about revenues unique to nonprofit organizations, including agency transactions and split-interest arrangements.

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).