Julia Lafferty, partner and director of CBM’s not-for-profit group, and Anthony Cuozzo, senior advisor, are scheduled to present on the “Impact of the New Revenue Recognition Standards on Contributions, Grants and Paycheck Protection Program Loan Forgiveness”. Their session is scheduled virtually for the Greater Washington Society of CPAs’ Nonprofit Symposium, on Thursday, November 18 from 10:30 am to 12:20 pm. Their presentation will include a review of the new revenue recognition standard, the new contribution standard for not-for-profit organizations (including the criteria for recording a conditional contribution) and conditions for recording forgiveness of a PPP loan. Julia and Anthony will also discuss how an exchange transaction differs from a contribution and the definition of “commensurate value”.
To register for the GWSCPA symposium and to participate in this session, click here.