Joyce Ripianzi, CPA, Lauren M. Duplin, CPA, and Amy Staunton, CPA, from AAFCPAS, will give the presentation about revenue recognition and grant management and systems to support those functions.
They are experts in the field of non-profit accounting and management including accounting solutions, best practices, auditing and compliance standards, and non-profit finance.
The presentation will touch on the following topics:
1) The principles of non-profit revenue recognition
2) Information about Systems that do some or all of the following:
- Collect the key data related to each grant (restrictions, conditions, whether it is a contribution or an exchange transaction) and appropriately code activity in the GL
- Determine and meet reporting and other requirements
- Separately record and report out on grant expenditures
- Apply approved indirect costs
- Calculate and release revenue from restricted to unrestricted and deferred to unrestricted (if applicable)
- Manage differences between the grant life and fiscal years
- Provide schedules for audit purposes
- Maintain grant records (proposals, award letters, reports, etc.)