In March 2019, the FASB issued an ASU changing the definition of a collection to allow proceeds of a sale of a collection item to be used for the “direct care” of existing collection items. However, ASU 2019-03, did not address the definition of direct care leaving it to industry to provide relevant guidance. In this blog, we explore a recent Q&A issued by the AICPA that provides additional guidance on what does it mean to use funds for the direct care by providing examples of what would and would not qualify. While not authoritative, the TQA does provide relevant guidance to be used in considering whether an expense qualifies as direct care.