Inherent in fund development is a different perspective and compilation of what counts in terms of gift recognition under GAAP, which sometimes results in a tug of war between development and financial accounting over reporting and recognition of planned gifts and pledges. Procedural consistency and reconciliation between development and accounting is necessary to avoid confusion with respect to what is reported internally among governing boards and audit committees and reports generated for external constituencies. Attendees will gain a clearer understanding of the reporting discrepancies between these two worlds. We will also discuss best practices in overcoming reporting and recognition challenges faced by not-forprofit accounting professionals.
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