Accounting for Grants and Contracts: Deciphering FASB's ASU 2018-08
The Financial Accounting Standards Board’s (FASB’s) accounting standards update (ASU) No. 2018-08, Not-For-Profit-Entities (Topic 958) helps clarify the guidance around cash contributions and other assets (grants) made or received by nonprofit organizations. However, this ASU can be hard to understand and implement. Join Paul Preziotti in this webinar, where he will discuss how to: determine conditionality of grants, identify right-of-return requirements, and recognize whether transactions should be categorized as contributions or exchanges.
Paul Preziotti, CPA, is a Principal for the multi-office CPA firm, Johnson Lambert LLP. He is responsible for providing audit, consulting services and engagement management to not-for-profit entities and employee benefit plans. He has significant experience serving as an advisor for organizations on a variety of issues including risk assessment, governance, compliance and internal control considerations. Paul is also a current member of the AICPA’s Not-for-Profit Advisory Council, the AICPA’s Uniform Accountancy Act Council and a past chair for the GWSCPA’s Nonprofit Finance & Accounting Symposium.
- Blackbaud Financial Edge NXT
- Blackbaud Grantmaking
- Arts and Cultural Organizations
- Faith Communities
- Healthcare Organizations
- Higher Education Institutions
- Individual Change Agents
- K-12 Schools
- Nonprofit Organizations
- Financial Management
- Grant and Award Management