Available in:

OnDemand Course

Nonprofit Accounting Guidance for Contributions: FASB ASU 2018-08

Understand the differences between contributions and exchange transactions.

Many accounting and finance professionals have noted difficulty in characterizing grants and similar contracts with resource providers as either exchange transactions or contributions and in determining whether a contribution is conditional. This topic will improve your understanding of accounting and reporting for grants and contributions by enabling you to distinguish between exchange and contribution elements within a transaction. This material will help you be able to clearly determine if a promise to give is conditional through example application.

89 minutes
Course Exam
Certificate of Completion
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Summary Overview

  • Purpose of the Accounting Standard Update
  • Entities Affected
  • Main Provisions of the Update
  • Scope of Guidance

Changes to FASB Master Glossary

  • Conditional Promise to Give
  • Conditional Contribution
  • Donor-Imposed Condition
  • Donor-Imposed Restriction

Revenue Recognition for Contributions Received and Conditional Contributions

  • Contributions Received Revenue Recognition
  • Donor Imposed Restrictions
  • Right of Return Included in Agreements
  • Indicators of a Barrier
  • Conditional Contributions Revenue Recognition
  • Other Presentation Matters

Implementation Guidance

  • Distinguishing Contributions From Exchange Transactions
  • Distinguishing Between Donor-Imposed Conditions and Donor-Imposed Restrictions
  • Identifying When a Contribution Is Conditional

Managing Revenue Recognition

  • How to Craft Proposals to Mitigate Restrictions
  • How to Control the Timing of Recognition to Help You Budget
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on September 9, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Julien Decosimo, CPA, MBA

Julien Decosimo, CPA, MBA

CliftonLarsonAllen LLP

  • Manager at CliftonLarsonAllen LLP
  • Nonprofit, Assurance and Tax
  • Recent speaking engagements include Maryland Society of Certified Public Accountants - Going Concern, April 2021, and American University - Data Analytics Used in Audits of Nonprofit Organizations, March 2021
  • Memberships include American Institute of Certified Public Accountants (AICPA) and American Society for Association Executives (ASAE)
  • M.B.A. degree, University of Tennessee, Chattanooga; B.S degree in accounting, University of Tennessee, Chattanooga
  • Can be contacted at 423-304-9329 or [email protected]
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 409056
Published 2021
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!