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Revenue from Contracts with Customers: Nonprofit Organizations  

CATEGORY: Accounting & Auditing
2 CPE Credits

2014-09, Revenue from Contracts with Customers. The standard eliminated the transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replaced it with a principle- based approach for determining revenue recognition. This standard has the potential to affect every entity’s day-to-day accounting and, possibly, the way business is executed through contracts with customers. The AICPA has formed sixteen industry task forces to develop a new Accounting Guide on Revenue Recognition that provides helpful hints and illustrative examples for how to apply the new Revenue Recognition Standard. This webinar will identify the effects of ASU 2014-09 on not-for-profit organizations and provides practice examples that apply the guidance currently available from the AICPA Not-for-Profit Industry Transition Task Force.

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