ASC 606 is effective for most organizations. Are you ready? ASC 606 deals with the reporting and disclosure of revenue recognition relating to contracts with customers (exchange transactions). For most not-for-profit organizations, the standards were originally effective in 2019 (or fiscal years ending in 2020). If your organization elected to defer the recognition of ASC 606 last year, the standards are now effective, and this webinar is for you.
Join ORBA’s Barbara Miller and James Quaid for this free webinar as they take a closer look at the revenue recognition standards. They will discuss how an organization can differentiate a contribution from an exchange transaction, review the five-step process of recognizing revenue under ASC 606, and then walk through some practical examples applicable to many types of not-for-profit organizations.
1.5 CPE credits