Exchange Transactions vs. Contribution for NPOs

Recently issued accounting standard updates provide important clarifications for determining whether a not-for-profit (NFP) organization's transactions are an exchange transaction or a contribution. This course will provide those responsible for preparing financial statements for NFPs examples of the proper accounting for exchange transactions covered by ASU No. 2014-09 versus contributions covered by ASU No. 2018-08.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

After attending this presentation you will be able to:

• Identify whether a transaction affecting a NFP organization is an exchange transactions or a contribution
• Recall core concepts fundamental to determining if a contribution is restricted or conditional
• Recognize recent clarifications to improve the accountant ability to determine if a contribution is conditional or unconditional
• Recall significant new requirements of ASU Nos. 2014-09 and 2018-08

The major topics that will be covered in this class include:

• Key changes from recent accounting standard updates affecting the determination of an exchange transaction versus a contribution
• Enhanced disclosure and reporting requirements for contributions
• Clarifications related whether a contribution is restricted or conditional
• New definitions related to barriers and right of return or right of release related to conditional contributions
• Other important matters contained in ASU Nos. 2014-09 and 2018-08

Designed for: Anyone responsible for accounting and reporting on NFP organizations financial statements as well as those responsible for reviewing and auditing these statements.

Level: Basic

Instructor: Daniel W. Bradley, CPA

CPE Credits:  2

Area of Study: Accounting (Governmental)