Accounting and Bookkeeping
Revenue Classification Tool: Factors to Consider
Note: Articles published before January 1, 2017 may be out of date. We are in the process of updating this content.
Originally Posted: February 13, 2022
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Revenue classification in compliance with generally accepted accounting principles (GAAP) has changed with the implementation of accounting standards updates (ASU’s). This tool can help you make the proper determinations. Review your agreements against the factors indicative of exchange or contribution, conditional or unconditional and with or without donor restrictions to properly classify revenues.
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