Revenue Recognition: A Comprehensive Review for Not-for-Profit Organizations

Thoughtware Article Published: Jun 22, 2018

Related Industries

Higher Education

Topics

Revenue Recognition

A group of volunteers hugging

Executive Summary

Not-for-profits (NFP) may face more challenges than other industries when it comes to implementing the new revenue recognition model. Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), partially supersedes NFP industry-specific guidance and substantially all existing revenue recognition guidance. It also adds significant interim and annual disclosures. The ASU’s effect on each NFP will vary depending on existing revenue streams and current accounting practices. Read on to learn more about how NFPs may be affected.

Article

Oct 21, 2021

New Disclosures on Proxy Voting Proposed

The SEC has proposed amendments to Form N-PX to enhance the information reported about proxy votes.

Article

Oct 20, 2021

Regulation of Cryptocurrency on the Horizon?

This article provides details on accounting guidance and SEC and Federal Reserve activity in response to a surge in crypto investments.

Article

Oct 12, 2021

3Q 2021 Audit Committee Update – Public Companies

This article addresses key accounting and financial reporting considerations for public companies as they begin to prepare third quarter…

Article

Oct 04, 2021

FASB Standard Setter Update: 3Q 2021

This paper provides an overview of proposed and final standards issued by FASB through September 2021, along with recent updates on…

Article

Sep 26, 2021

Discount Rate Lease Relief Approved for NFPs & Private Companies

FASB has approved issuance of a final ASU to provide relief to private companies, NFP entities, and employee benefit plans in determining…

Article

Sep 26, 2021

NFP Year-End Accounting Guide

NFP Year-End Accounting Guide

Kate & Ben — How can we help you? Contact Us!

How can we help you?