New FASB Guidance Clarifies Accounting for Contributions
June 25, 2018
June 25, 2018
WASHINGTON, June 25 -- The National Association of College and University Business Officers issued the following news:
In an effort to clarify existing guidance for conditional contributions, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, "Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made," on June 21. The ASU impacts how grantor/ donor agreements are assessed for conditions . . .
In an effort to clarify existing guidance for conditional contributions, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, "Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made," on June 21. The ASU impacts how grantor/ donor agreements are assessed for conditions . . .