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FASB issues new rules for reporting gifts-in-kind

$225.00

SKU: PSNsp212. Category: .

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Abstract: More information will be required from nonprofits that use GAAP and receive nonfinancial assistance ― also known as gifts-in-kind ― than in the past as the result of a new FASB rule. ASU No. 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets, is intended to expand the transparency around such gifts. This article highlights key components of the rule.

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