FASB’s Accounting Standards Update (ASU) 2020-05 – Revenue from Contracts with Customers (Topic 606) is shaking up how nonprofits recognize and report revenue. Whether you are a CEO, finance staff, or membership engagement staff, this roundtable brings you together with your nonprofit executive peers for a facilitated discussion around how nonprofits are implementing Topic 606.
Participants will come away with a better understanding of the complexities of revenue recognition and the knowledge nonprofit financial professionals need to reasonably report on revenue recognition under the new ASU.
Our facilitators will lead participants in a roundtable discussion with their nonprofit executive peers focused on:
- The 5-step process to record revenue with contracts with customers
- Practical expedients available to certain entities
- Best practices for implementation