Exchange Transactions vs. Contribution for NPOs WEBINAR

Overview

Recently issued accounting standard updates provide important clarifications for determining whether a not-for-profit (NFP) organization’s transactions are an exchange transaction or a contribution. This course will provide those responsible for preparing financial statements for NFPs examples of the proper accounting for exchange transactions covered by ASU No. 2014-09 versus contributions covered by ASU No. 2018-08.

Highlights

Key changes from recent accounting standard updates affecting the determination of an exchange transaction versus a contribution. Enhanced disclosure and reporting requirements for contributions. Clarifications related whether a contribution is restricted or conditional. New definitions related to barriers and right of return or right of release related to conditional contributions. Other important matters contained in ASU Nos. 2014-09 and 2018-08.

Prerequisites

None.

Designed For

Anyone responsible for accounting and reporting on NFP organizations financial statements as well as those responsible for reviewing and auditing these statements.

Objectives

Identify whether a transaction affecting a NFP organization is an exchange transaction or a contribution. Recall core concepts fundamental to determining if a contribution is restricted or conditional. Recognize recent clarifications to improve the accountant’s ability to determine if a contribution is conditional or unconditional. Recall significant new requirements of ASU Nos. 2014-09 and 2018-08.

Preparation

None.

Notice

None.