Description
Learn how to accurately record contributions and pledges to avoid errors in revenue recording and misclassification of net assets.
Many nonprofit leaders have difficulty recording contributions and pledges. Oftentimes this results in errors in recording revenue or breaking out net assets classifications. This presentation will help the people responsible for reviewing contribution agreements to recognize conditions and restrictions. The live webinar also explains the differences in recording unconditional and conditional contributions vs donorrestricted and unrestricted contributions. Failing to recognize the differences between these various types of contributions and impacts on revenue recognition can have a significant impact on the financials and is a frequent cause of audit adjustments. This webinar is critical for nonprofit leaders and those involved in reviewing and processing donor agreements and cash receipts.
Date: 2024-01-23 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe the difference between a condition and a restriction.
* You will be able to discuss how to record various types of contributions pledges.
* You will be able to explain how a contribution is different from an exchange transaction.
* You will be able to recognize when revenue should be recorded.