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OnDemand Course

Nonprofit Accounting for Contributions and Pledges

Learn how to stay compliant when accounting for contributions and how to overcome its unique challenges.

Accounting for contributions under GAAP can be challenging and keeping up with changes in accounting standards, while performing your daily responsibilities, can add to that challenge. This topic will help you understand the differences between contributions and exchange transaction; and determining when contributions contain donor-imposed conditions and/or donor-imposed restrictions. We will also go over the accounting and disclosure requirements for noncash contributions and promises to give.

Learning Objectives

  • You will be able to differentiate between a Contribution and an Exchange transaction.
  • You will be able to recognize when contributions are conditional.
  • You will be able to identify accounting requirements related to Contributions.
  • You will be able to identify disclosure requirements related to Contributions.

87 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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

Understanding the Difference Between Contributions and Exchange Transactions

  • Definition of Exchange Transaction
  • Definition of a Contribution
  • Reporting Equity Transfers

Determining If Contributions Are Conditional

  • Donor-Imposed Condition
  • Barriers
  • Right of Return
  • Recognition and Measurement

Determining If Contributions Are Donor Restricted

  • Donor-Imposed Restriction
    • Restricted for Time
    • Restricted for Purpose
    • Perpetually Restricted
  • Accounting for Restrictions

Noncash Contributions

  • Accounting for Gifts-In-Kind
  • Accounting Gifts of Long-Lived Assets
  • Items Used for Fundraising Purposes
  • Contributed Services
  • Contributed Utilities and Use of Long-Lived Assets
  • Brief Overview of ASU 2020-07 - Presentation and Disclosure of Nonfinancial Assets Received

Promises to Give

  • Initial Recognition and Measurement
  • Subsequent Measurement
  • Disclosure Requirements
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Why Lorman?

Over 34 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 May 10, 2021.

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

  • CPE/NASBA - QAS Self Study 2.2 including Accounting 2.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.2 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 34 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

Mark Robins, CPA

Mark Robins, CPA

Aronson LLC

  • Partner, Assurance Services at Aronson LLC
  • Over 10 years of experience in public accounting
  • Specializes in nonprofit financial reporting and auditing
  • Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
  • Member of the AICPA
  • B.S. degree in accounting, California State University Northridge
  • Can be contacted at 240-364-2645 or [email protected]
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Why Lorman?

Over 34 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.

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Product ID: 409013
Published 2021
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