Surgent's How Not-for-Profits Account for Grants and Contracts Under ASU No. 2018-08

Overview

This course is designed to help you proceed and succeed in applying the requirements found in ASU No. 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. Learn the thought process used in evaluating and recording contribution transactions.

Highlights

• Evaluating whether transactions should be accounted for as contributions or as exchange transactions
• Determining whether a contribution is conditional or unconditional
• Become comfortable with the new barrier and right of return/right of release terminology

Prerequisites

Some introductory background in not-for-profit accounting

Designed For

Not-for-profit industry professionals and auditors

Objectives

• Understand the steps involved in applying ASU No. 2018-08
• Recognize how the new contribution guidance interacts with the old contribution guidance

Preparation

None