Businesses may perform services that offer more than one deliverable. As such, there are several options for identifying and managing revenues, which in this case, means that there are several important evaluations to undergo. Determining the types of applicable units of accounting and estimated prices are the first steps and here are some tips to follow.
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Topic: Leveraging Cloud Technology for Nonprofit Accounting
Date: Friday, July 22nd at 11 AM PT / 2 PM ET
Join us for the webinar Not Your Mother's Chart of Accounts—Leveraging Cloud Technology for Nonprofit Accounting, and learn how nonprofit organizations are using Intacct, a modern cloud-based financial management and accounting system, to save time, streamline accounting processes, and provide analytical insight into their organization.
You'll learn how to use Intacct to:
• Streamline and automate your chart of accounts, resulting in dramatic time savings
• Easily track, manage, and analyze funds, grants, budgets, expenses, and cash flows
• Quickly generate reports with relevant information for your various constituents
• Efficiently add new funds, grants, and donors
• Gain real-time insights into your organization's financial performance
In order to maintain a loyal client base and attract new clients, discounts are a go-to effort for most companies. When promising discounts to clients on future purchases of products or services, there are a few guidelines to follow. As discussed in “Accounting for Significant Incremental Discounts on Future Purchases,” posted on RevenueRecognition.com, the specific guidance for offering discounts for future purchases is defined in Accounting Standards Codification (ASC) 985-605, Sections 55-82 through 55-85. While this method is mostly used in the software industry, it can also be applied to other industries.
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