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Wednesday, August 9, 2017

Nonprofit Revenue Recognition Checklist


Did you know that common nonprofit revenue streams like memberships, subscriptions, tuition and sponsorships are within the scope of the new revenue recognition standards? Armanino can get you prepared for ASC 606 compliance in advance of the fast-approaching deadline.

If your organization is like most nonprofits, you’re focusing on preparing for the new nonprofit financial reporting standard. But there’s another set of new rules you can’t afford to ignore: the ASC 606 revenue recognition standard. It impacts nearly every entity, including nonprofit organizations with earned income of any kind. ASC 606 will be effective for most nonprofits in annual reporting periods beginning after December 15, 2018


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