Updated white paper on changes to revenue recognition for NFPs
FINANCIAL REPORTING INSIGHTS |
We have issued an updated version of our white paper, Changes to revenue recognition for not-for-profit organizations, to further assist not-for-profit organizations (NFPs) in applying the new revenue recognition model in Topic 606, “Revenue from Contracts with Customers,” of the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification. The white paper has been updated for recent developments, including the issuance of FASB Accounting Standards Update 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made.
For more information regarding ASC 606, also visit our Revenue Recognition Resource Center.