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AICPA Not-for-Profit Industry Conference 2020


NOT2021 - Deep Dive: New Revenue Recognition Guidance for Grants and Similar Contracts (ASU 2018-08): Part I


Jun 23, 2020 11:00am ‐ Jun 23, 2020 11:50am

Standard: $49.00

Description

These sessions (parts 1 and 2) will be a deep dive into the ASU. 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 and common implementation questions, including application to Paycheck Protection Act forgivable loans.

Learning Objectives:
  • Recall the new accounting guidance for grants and similar contracts
  • Apply the new guidance to different types of grants and contracts
  • Identify the effective date of the changes

Speaker(s):

Tags: A A
Category: Concurrent Session (Online)

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