Implementation of the new revenue recognition standard is closer than it seems. The amount of work involved to switch to the new framework can take significant time, and public business entities (some institutions with public bonds) will be implementing early.
The new standard is a framework that applies to all contracts with customers, and opportunities exist to combine contracts, such as tuition and housing. However, doing so may have implications as your institution considers discounts and collectability individually or bundled. Don't wait; begin analyzing your contracts now.
Our Revenue recognition resource guide for higher education identifies key topics impacting universities and higher education institutions, including many factors and implications related to:
- Tuition, fees, and housing
- Government and other grants
- Contract service fees
- Variety of contracts
- Impacts on your balance sheet and taxes
Download our Revenue recognition resource guide for higher education to help your organization implement the new standard.