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Not-for-Profit Industry Conference 2019


NOT1922 - Deep Dive Into New Guidance for Grants and Contracts - ASU 2018-08


Jun 11, 2019 9:20am ‐ Jun 11, 2019 10:35am

Description

This session will be a deeper dive into the ASU, beyond what is covered in the GAAP Update session. It will provide a detail 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 for apply the guidance with recipients and resource providers.

  • Identify the key requirements of ASU 2018-08.
  • Apply the new guidance to different types of grants and contracts.
  • Distinguish between contributions and exchange transactions.

Speaker(s):

  • Rick Cole, CPA, CGMA, Supervising Project Manager, FASB
  • Andrew Prather, CPA, CGMA, Shareholder, Clark Nuber P.S.
  • Sharon Heinle, CPA, CGMA, Associate Vice President & University Controller, George Washington University
Tags: AA

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