Revenue from Contributions: Not-for-Profit Accounting & Financial Reporting

Overview

This CPE course is included in the comprehensive Not-for-Profit Certificate I Program. It can also be purchased individually or as a part of the Not-for-Profit Accounting and Financial Reporting track.

Not-for-profits (NFPs) frequently receive contributions from individuals, foundations, businesses, other NFPs and government entities. These contributions can come with donor-imposed conditions, restrictions, or both. In this CPE course, you will learn the core principles for recognition and measurement of contributions and have an opportunity to work through real-world scenarios. Topics covered include promises to give, donated goods and services, distinguishing contributions from exchange transactions and conditional contributions from unconditional contributions, performance guarantees, and below-market interest rate loans.

Note: As of August 1, 2018, the content of this course has been significantly updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08). If you started Not-for-Profit Certificate I prior to July 31, but did not complete it, click here to find out how this and related course updates affect you. If you completed the program prior to July 31 and would like to retake only those courses with significant updates for new standards, click here to learn about the Certificate I Update Pack.

Highlights

Key Topics

• NFP reporting standards related to revenue recognition
• Financial statement presentation and disclosures related to contributions

Prerequisites

Knowledge of the not-for-profit industry

Objectives

Learning Outcomes

• Identify some of the critical characteristics of contributions and the restrictions that may be placed upon them by an NFP's donors.
• Differentiate between conditional and unconditional promises to give and apply the proper revenue recognition procedures.
• Recall the key issues relating to the recording and valuation of contributions of services, financial assets other than cash, non-financial assets, and use of non-financial assets.