Stakeholders often struggle in determining whether a transaction is a contribution or an exchange transaction as well as determining if a contribution should be considered a conditional contribution. FASB Accounting Standards Update (ASU) 2018-08, Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, was issued to improve and clarify the guidance in these areas. The changes introduced by ASU 2018-08 are explained in this report.
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Accounting for Contributions
Jan 16, 2019 · 1 min read
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Download the CPEA report - January 2019 - Accounting for Contributions Distringuishing from Exchanges & Determining Whether Conditional
File name: CPEA report - January 2019 - Accounting for Contributions Distringuishing from Exchanges & Determining Whether Conditional.pdf
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