Nonprofit Council Meeting
The Nonprofit Council is open to executive directors, senior staff or board members of chamber member nonprofit organizations for networking, learning and collaborative opportunities.
Topic: Key Revenue Recognition for Nonprofit Organizations
Presenter: Elizabeth Pilacik, Director, Not-for-Profit Industry Group Leader, Audit & Accounting, Kreischer Miller
Revenue recognition can be one of the most challenging areas of nonprofit accounting, but it doesn't have to be.
Join us for a practical, easy-to-follow session that breaks down the complexities of revenue recognition for nonprofit and not-for-profit organizations. Through real-world examples and a simple decision-making framework, you'll learn how to determine whether revenue should be recorded as an ecxhange transaction or a contribution.
We'll cover:
- How to distinguish between conditional and unconditional contributions
- Determing whether commensurate value exists
- Applying the appropriate accounting guidance with confidence
- Common scenarios and pitfalls that impact compliance and financial reporting
This session will provide valuable insights and actionable tools you can put to work immediately. Leave with a clearer understanding of the rules, increased confidence in your reporting and practical strategies to help ensure compliance.
