Revenue from Contributions

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Overview

2.0 Credits
ONLINE

In this CPE course, you will learn the core principles for recognition and measurement of contributions. You will have an opportunity to work through real world scenarios. Topics covered include promises to give, donated goods and services, contributions of long-lived assets, performance guarantees, and below-market interest rate loans.

Objectives

  • Identify some of the critical characteristics of contributions and the restrictions that may be placed upon them by an NFP's donors.
  • Differentiate between conditional and unconditional promises to give and apply the proper revenue recognition procedures.
  • Recall the key issues relating to the recording and valuation of contributions of services, financial assets other than cash, non-financial assets, and use of non-financial assets.

Major Topics

  • NFP reporting standards related to revenue recognition
  • Financial statement presentation and disclosures related to contributions

Designed For

CPAs who are new to NFPs, entry-level staff in public accounting firms, seasoned professionals with limited exposure to NFPs, and NFP board members
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