by Douglas E. Cook MPA CPA on January 13, 2021
Categories: Current Issue| Finance
Topic Tags: Accounting | Financial Management
The Impact of ASU 2014-09 on Nonprofits You may have heard the buzz about the new revenue recognition standard, Revenue from Contracts with Customers, (ASU 2014-09), which is now effective for all nonprofits. You’re wondering what kind of impact, if any, it will have on your nonprofit. Depending on the nature of your revenue and support, this new standard may have a significant impact on how you record certain transactions in your accounting system and how you present your financial statements. In considering ASU 2014-09, it is also important to recall ASU 2018-08, Clarifying the Scope and Accounting Guidance for …
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