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The Accounting Standards Are Not Just For the Accountants Any More
Contains material from Feb 2020
The Accounting Standards Are Not Just For the Accountants Any More
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Generally accepted accounting principles (GAAP) determine whether, when, and how contributions are recognized in the accounting records and financial statements. Accounting for contributions can be significantly influenced by how resources are solicited and documented by donors and nonprofit organizations. Donors, development professionals and accountants need to understand how to assist each other so we're all "rowing in the same direction" to serve the needs of the not-for-profit community. Hear an overview of the new accounting rules for contributions (Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made) and a discussion of the adoption of the new Financial Reporting Disclosures for Operating Liquidity.
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The Accounting Standards Are Not Just For the Accountants Any More (Feb 2020)
Amy B. Robinson, Kay Walther
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Session 1
—51 mins
The Accounting Standards Are Not Just For the Accountants Any More (Feb 2020)
Generally accepted accounting principles (GAAP) determine whether, when, and how contributions are recognized in the accounting records and financial statements. Accounting for contributions can be significantly influenced by how resources are solicited and documented by donors and nonprofit organizations. Donors, development professionals and accountants need to understand how to assist each other so we're all "rowing in the same direction" to serve the needs of the not-for-profit community. Hear an overview of the new accounting rules for contributions (Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made) and a discussion of the adoption of the new Financial Reporting Disclosures for Operating Liquidity.
Originally presented: Jan 2020 Nonprofit Organizations Institute
Amy B. Robinson,
The Kresge Foundation - Troy, MI
Kay Walther,
Blazek & Vetterling - Houston, TX