Revenue from Contributions: Not-for-Profit Accounting & Financial Reporting
Not-for-profits (NFPs) frequently receive contributions from individuals, foundations, businesses, other NFPs and government agencies. 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. You will have an opportunity to work through real world scenarios. Topics covered include promises to give, donated goods and services, contributions of long-lived assets, performance guarantees, and below-market interest rate loans.
- When you complete this course, you will be able to:
- 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
- NFP reporting standards related to revenue recognition
- Financial statement presentation and disclosures related to contributions