Example disclosures for resource providers and contributions made

FASB ASU No. 2018-08 clarified and improved the scope and the accounting guidance for contributions received and contributions made. The effective dates were split among resource recipients and resource providers. This article focuses on the standards for resource providers – entities that make contributions of cash and other assets, including promises to give to others. Non-public business entities acting as resource providers could early adopt the standard but were required to do so for annual periods beginning after December 15,