Is it a Contribution or is it an Exchange Transaction? Finally, the FASB Issues its Long-Awaited Guidance

By | August 14, 2017|Categories: Nonprofit|

On August 3, 2017, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to clarify and improve the scope and accounting guidance for contributions received and contributions made, primarily as it relates to not-for-profit entities (NFPs). The proposed ASU covers two significant topics: Helps organizations decide if a transaction should [...]