This course discusses the basics of accounting and financial reporting for exchange and agency transactions of not-for-profit entities (NFPs). This course covers the recognition, measurement, and presentation of revenues from exchange transactions involving not-for-profit entities (NFPs). Sometimes a transaction can be part contribution and part exchange. The course addresses these transactions that may be challenging to classify. It also discusses agency arrangements where the NFP acts as an intermediary. Regardless of whether the NFP derives a substantial or minor portion of its total revenues from exchange transactions, accurately accounting for them is vital for reflecting the NFP's financial story. Who Will Benefit - New accountants interested in the basics of accounting and financial reporting requirements that apply to not-for-profit entities. - Experienced accountants that are new to the not-for-profit industry or are in need of a refresher on the basics of accounting and financial reporting requirements that apply to not-for-profit entities. Key Topics - Recognition, measurement, and presentation of revenues from exchange transactions involving not-for-profit entities - Challenges - Agency arrangements Learning Outcomes - Differentiate between exchange transactions and contributions. - Recognize challenging types of transactions. - Recall key concepts regarding revenue recognition for exchange transactions. - Recall key concepts relating to agency transactions.