Nonprofit Revenue Recognition: Step 5 – Recognize Revenue When Performance Obligations are Satisfied, by Johnson and Lambert

Nonprofit Revenue Recognition: Step 5 – Recognize Revenue When Performance Obligations are Satisfied is FREE courtesy of Johnson and Lambert

1 Lesson / 2 Minutes / FREE

In 2019 ASU 2014-09, “Revenue from Contracts with Customers” became effective. The standard sets a single framework for revenue recognition for all organizations, including nonprofit organizations. To satisfy this core principle apply the five-step model outlined in the following videos. The five steps are as follows: Step 1 – Identify the Contract with the Customer Step 2 – Identify the Performance Obligations Step 3 – Determine the Transaction Price Step 4 – Allocate the Transaction Price to the Performance Obligations Step 5 – Recognize Revenue When (or as) Performance Obligations are Satisfied

Click here to see more content from Johnson and Lambert.

This course does not have any sections.

0 0 votes
Give it a rating!
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments