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Revenue from contracts with customers: Impact on nonprofit organizations

Date:
August 18, 2017
View on-demand
Unsure how the new revenue recognition standards will affect your nonprofit organization? You’re not alone. View our on-demand webinar to find out more information on how this new principles-based system will impact tax exempt organizations.

Two women in a meeting with a laptop in the foreground.

Resulting from a FASB and IASB convergence, the new revenue recognition standard is a replacement for numerous existing standards. How to recognize revenue under this new standard varies from organization to organization and from contract to contract, and can be difficult to interpret and apply.

The primary feature of the new revenue recognition standard is that it is moving away from a rules-based system and into a principles-based system. The standard lays out general principles and leaves it up to individual organizations to apply those principles to their specific contracts.

This webinar covers the implications of, who might be affected by, and how to be in compliance with the new revenue recognition standard.

Webinar overview

  • Summary of the new standard
  • Revenue streams affected
  • Overview of five step process
  • Financial statement disclosures
  • Transition methods
  • Recommended action plan

Presenter

Kris Ray, Nonprofit industry technical leader

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