FASB has issued a proposed ASU titled Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Gifts in kind have received a lot of attention for pharmaceutical donations but the proposal addresses all contributions on nonfinancial assets. The proposal includes unique presentation for these contributions as well as additional disclosures. Comments are due by April 10th.
Presentation & Disclosures by Not for Profit Entities for Contributed Nonfinancial Assets
Feb 13, 2020 | Accounting, Genuine Learning Blog, Non-Profit