Self-Study

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

  • Monday, May 1, 2023 – Tuesday, April 30, 2024

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  • 1.00
    CREDITS
    Accounting (Governmental)

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.

Objectives

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

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

Additional Information

Designed For

Not-for-profit industry professionals and auditors

Vendor

Surgent

Advanced Preparation

None

Credits

1.00 Accounting (Governmental)

Prerequisite

Some introductory background in not-for-profit accounting

Course Number

2329645

Level of Knowledge

Intermediate

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