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:
- Understand the key principles of ASU 2018-08
- Apply the new guidance to different types of grants and contracts
- Understand common implementation questions that arise and how to think through the answer.
Speaker(s):
- Richard
Cole,
CPA, CGMA,
Partner,
BKD
- Sharon
Heinle,
CPA, CGMA,
Associate Vice President & Controller,
George Mason University
- Andrew
Prather,
CPA, CGMA,
Shareholder,
Clark Nuber P.S.
Category:
Concurrent Session (Online)
