Accounting for Contributions, Pledges, Grants and Donations to Non-Profits
Navigating the Uncertainties Surrounding FAS 116 and FAS 117
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide non-profits’ tax advisors with a review the material terms of accounting standards and guidance on accounting for contributions, donations, pledges and grants to non-profits. The panel will also provide insights and perspectives into facing practical challenges that aren’t specifically addressed in the standards.
- Standards and guidance that apply
- FAS 116 and FAS 117
- Pending revisions to OMB grants management guidance
- Chap. 5 of AICPA’s Not-for-Profit Entities Audit and Accounting Guide
- Practical issues that arise with contribution and grant accounting
- Support vs. revenue, re: contribution
- Promise vs. intent
- Conditional and restricted contributions
- Contribution recorded in right year, in right amount
- Proper disclosures
- When to record non-cash contributions
- Scenarios involving non-profits
The panel will address issues such as:
- What are the critical differences between support and revenue?
- How does a verifiable promise differ from intent to contribute?
- How should you account for conditional or restricted awards?
- How should non-cash contributions be recorded?
Lane Gorman Trubitt
Ms. Duncan has more than 10 years of public accounting auditing experience on a variety of planning, risk assessment,... | Read More
Ms. Duncan has more than 10 years of public accounting auditing experience on a variety of planning, risk assessment, financial statement and other activities. She focuses on non-profit organizations such as healthcare related entities, private schools, and foundations. She has presented previously on FAS 117-1 and sits on NPO committees for two accounting societies.Close
William R. Moss
William R. Moss, CPA
Mr. Moss has been a licensed CPA for 37 years with experience in both public practice and as a corporate financial... | Read More
Mr. Moss has been a licensed CPA for 37 years with experience in both public practice and as a corporate financial executive. He has previously worked for Deloitte as an audit manager and spent 17 years in financial executive positions in industry, including CFO for the Texas Society of CPAs. Mr. Moss currently manages his own practice which focuses on traditional audits, permanent part-time CFO roles, consulting, internal audit and as a national speaker and presenter for the American Institute of CPAs and various state societies.Close