ASU-2018-08: Not-For-Profit Revenue Recognition Update

<p class=”Normal1″ style=”margin: 0in 0in 0.0001pt; line-height: 16.866666793823242px; font-size: 11pt; font-family: Arial, sans-serif; color: black;”><span style=”line-height: 16.866666793823242px;”>This course walks the participant through a change in Generally Accepted Accounting Principles (GAAP) regarding how the Financial Accounting Standards Board (FASB) now wants not-for-profits (NFPs) and business entities to report contributions and exchanges (both as revenues and expenses).&nbsp;&nbsp;Under Accounting Standards Codification (ASC) Topic 958 – Not-for-Profit Entities, Accounting Standards Update (ASU) No. 2018-08: Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made represents a clarification and a change regarding how certain grants might be recorded on the books of donor and donee organizations.&nbsp;</span></p>

<p class=”Normal1″ style=”margin: 0in 0in 0.0001pt; line-height: 16.866666793823242px; font-size: 11pt; font-family: Arial, sans-serif; color: black;”>&nbsp;</p>

<p class=”Normal1″ style=”margin: 0in 0in 0.0001pt; line-height: 16.866666793823242px; font-size: 11pt; font-family: Arial, sans-serif; color: black;”><span style=”line-height: 16.866666793823242px;”>This course also discusses the expected implementation dates for NFPs and businesses noting differences for special circumstances. Learners will also get a healthy dose of examples provided by the FASB that will drive home the concepts presented in each section. Lastly, there is a discussion of reporting and disclosure requirements.</span><span style=”font-size: 10pt; line-height: 15.333332061767578px;”><o:p></o:p></span></p>