You are likely aware of the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. But did you know that nonprofit organizations will be affected, too? Of the most significance to the nonprofit industry is that...
Read MoreAccounting Standards Update No. 2014-09, Revenue from Contracts with Customers, is likely one of the most important pieces of work we have seen from the Financial Accounting Standards Board (FASB) in years. While the standard goes into effect for nonpublic companies on January 1, 2019, there is...
Read MoreThe implementation of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which go into effect in 2018 for public entities and 2019 for non-public entities, will incorporate some sweeping changes for how and when traditional software entities recognize revenue. ...
Read MoreRevenue recognition, arguably one of the most difficult areas in terms of interpreting not-for-profit accounting guidance, is about to get a major overhaul. However, much of the difficulty and judgment that currently exist aren’t going anywhere. Revenue recognition is an area that...
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