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With the implementation of ASU 2018-08 the interpretation of an exchange transaction and criteria for conditions have changed. As a result, many organizations have been tasked with reevaluating agreements in order to recognize and classify exchange revenue and contributions.
Aronson nonprofit experts Mark Robins and Eric Hittle hosted a Lorman live webinar to understand the differences between contributions and exchange transactions. This presentation demonstrated how to identify if a contribution is donor-restricted and if a donor-imposed condition exists, as well as how to correctly account for and present contributions in your financial statements and disclosures.
Find the on-demand webinar here.