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.
Supervising Project Manager,