CPAR NFP - Accounting & Financial Reporting  |  Format: Flash

Revenue Recognition: What You Need to Know and Must Do

Course Overview
The new revenue recognition standard is historic in its impact on all segments of the economy, including the not-for-profit sector. As a result, everyone - from an organization�s managers to its donors - wants to know the potential impact of the new guidance right now. Loscalzo Institute�s Allen Fetterman explains how to assess the impact of the revenue recognition rules, how to forge a successful path to its implementation, and why FASB has recently proposed new guidance to distinguish a contribution from an exchange transaction.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Identify the five-step process to recognize revenue under the new standard on revenue recognition;
  • Recognize the basic tenets of the new revenue recognition standard;
  • Identify the key issues relating to revenue recognition of not-for-profit organizations;
  • Recognize the accounting practices relating to revenue recognition of grants and contracts by not-for-profit entities.

    Catalog Number: CPAR1297-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: CPAR Government/Not-For-Profit
    Advanced Preparation:
    Work experience in accounting or auditing, or an introductory course in accounting
    Course Level: Update
    Field of Study: Accounting
    Content Partner: CPAR Government/Not-For-Profit
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Oct 30, 2017 / Dec 12, 2019