Are you prepared to implement FASB’s ASU 2014-09 , Topic 606, “Revenue from Contracts with Customers”? The ASU’s implementation date is on the horizon and now is the time to begin your analysis on the impact the standard will have on your financial reporting. Topic 606 will replace previous guidance in GAAP and affect revenue recognition for different revenue streams associated with exchange transactions. For some, the new ASU may impact compliance with debt-related covenants.
Join Gelman, Rosenberg & Freedman CPAs and Financial Executives Alliance for an overview of the new accounting standard as it relates to nonprofit organizations. Our experienced CPAs will review the revenue streams affected and explain the potential impact to revenue recognition, measurement and reporting to help your organization assess the impact and develop an implementation plan.
Our presenters will address:
- Identification of revenue streams impacted
- Implementation dates
- The 5 step process to recognize revenue
- Distinguishing between contributions and exchange transactions (review of Not-for-Profit Entities [Topic 958] FASB Exposure Draft)
- Development of an implementation plan
Join us for an interactive discussion and learn how your organization should respond to stay ahead of the curve. You will come away with practical knowledge and tools to help your organization tackle some of its biggest challenges. Earn 1.0 CPE credit.
Additional Program Details
Learning Objective: To provide attendees with a better understanding of leveraging the new ASU 2014-09 standard.
Instructional Delivery Methods: Group Internet-based
Recommended CPE: 1.0 CPE
Recommended Fields of Study: Audit
Prerequisites: None Required
Advance Preparation: None
Program Level: Basic
Course Registration Requirements: None
Refund Policy: No fee is required to participate in this session.
Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
Complaint Resolution Policy: Gelman, Rosenberg & Freedman is committed to our seminar participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact firstname.lastname@example.org with any concerns.