What revenue recognition means for your organization
Having worked with Not-for-Profit Organizations (NPOs) for years, we find that revenue recognition is one of the most misunderstood concepts in accounting for NPOs.
Revenue recognition has broad implications for NPOs. Revenue recognition principles are very often not aligned with cash receipts and expenditures, which can create significant confusion for stakeholders. A lack of understanding of revenue recognition can lead an organization’s management team to make the wrong decisions for the organization.
Our intention in creating this ebook is to assist stakeholder of NPOs, whether they have technical accounting training or not, in knowing what they need to know when it comes to revenue recognition.
In this ebook you’ll learn:
- What is revenue recognition?
- Types of revenue recognition and why it is important to NPOs?
- Types of contribution revenues
- Methods NPOs can use to recognize revenue from contribution revenues
- Donations and fundraising
- Revenues other than contributions
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