This session will dive into the complexities of accounting for and reporting on in-kind gifts (GIK): Lessons learned from implementation of FASB ASU 2020-07, complex issues of how to recognize GIK in the accounting records, and how GIK may impact a charities' charitable solicitations.
Identify situations requiring in-kind contributions be reported.
Analyze in-kind contributions properly.
Determine the accounting treatment for in-kind contributions.
Analyze to ensure proper disclosures are included.
NFP Industry Technical Leader,
Plante Moran, PLLC