December 11, 2017

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Changes to recognizing revenue with Implementation of ASU 2014-09: Is your nonprofit prepared?

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.