With the advent of the revenue standard ASU 2014-09 "Revenue from Contracts with Customers" (effective years beginning after December 15, 2019) and ASU 2018-08 "Clarifying the Scope of Contributions Received and Contributions Made" (effective mainly for years beginning on or after December 15, 2018), Nonprofit Organizations find themselves in a situation where revenue is accounted for under several different sections of the Codification. In addition, new ASU 2020-07 "Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets" (effective years beginning after June 15, 2021) significantly impacts reporting and disclosures for non-financial contributions received. This course covers all these new standards in the specific manner in which they relate to Nonprofit Organizations of all sizes. A fast moving, practical approach to application of the standards in what is typically a very fee sensitive area!
