1. Identify which revenue types will be impacted by GAAP changes.
2. Identify how organizations can analyze and quantify the impact of these changes for an organization.
3. Obtain tools to help your nonprofit organization properly recognize revenue under the new standard.
The new revenue recognition standards (Topic 606) are the most significant changes to GAAP in decades. These changes will impact nonprofit organizations less than businesses, but nonprofit entities will need to be aware of how these changes may impact their organization to prevent findings in the first years the standard is applicable. If you have exchange transactions, this session will help you understand whether these changes will impact your organization and how to update your policies and procedures for these changes.