Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. Affected every entity's day-to-day accounting and the way business is executed through contracts with customers. The AICPA developed an Accounting Guide on Revenue Recognition that provides helpful hints and illustrative examples for how to apply the Revenue Recognition Standard (Topic 606). This course will identify the effects of Topic 606 on not-for-profit organizations and provides practice examples that apply the guidance currently available from the AICPA Not-for-Profit Industry Transition Task Force and from not-for-profit industry leaders. Examples across the spectrum of not-for-profit organizations such as education, cultural, social services etc. will be provided, including detailed comparisons of financial statements before and after implementation of Topic 606.