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Not-for-Profit Industry Conference 2018


NOT1865 - Grants and Contracts to NFPs: Implementing the New ASU


Jun 20, 2018 10:45am ‐ Jun 20, 2018 12:00pm

Description

This session will be a deeper dive into the ASU, beyond what is covered in the GAAP Update session. It will provide a detailed walkthrough of categorizing grants/contracts as either exchange transactions (contracts with customers under ASC 606) or contributions (nonexchange transactions), as well as then determining when a contribution transaction is conditional or unconditional. The session will include several examples and implementation guidance for NFPs to prepare for and manage the impacts to their financial statements.

  • Through both discussion and examples, develop a detail understanding of the requirements of the new ASU and associated implementation matters.
  • Clarify that understanding further through the opportunity to ask questions of the session panelists.

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