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 donor-restricted 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.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Is a Contribution and a Pledge?
- Contribution vs Exchange Transaction
- Examples of Contributions and Exchange Transactions
- Promise vs Intent
Types of Pledges?
- Unconditional Promise to Give.
- Conditional Promise to Give.
- Examples of Unconditional and Conditional Promises to Give
Restricted vs Unrestricted?
- Contributions / Pledges With Donor Restrictions
- Contributions / Pledges Without Donor Restrictions
- Examples of Contributions / Pledges With and Without Donor Restrictions
Restriction or Condition?
- Differences Between Restrictions and Conditions
- Examples of Restrictions vs Conditions
Review and Questions
- Contributions vs Exchanges Transactions
- Unconditional vs Conditional Contributions
- Restricted vs Unrestricted
- Restriction or Condition
- Questions
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 23, 2024.
Call 1-866-352-9540 for further credit information.
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Eric Hittle, CPA
Silver Spring Accounting LLC
- Principal, Silver Spring Accounting LLC
- Focus on outsourced accounting and advisory services for nonprofits
- Conducts webinars with ASAE, Lorman, and various firm and client-sponsored training
- AICPA, Maryland Nonprofits
- Master of Professional Accountancy
- Can be contacted at [email protected] or 406-209-7472
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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