Contributions received by not-for-profit entities

This lesson is part of the full course.

In it you will learn to:

• Distinguish a contribution from an exchange transaction
• Decide whether a contribution or promise to give is conditional, using the barrier and right-of-return-or-release test
• Measure unconditional promises to give at present value and account for the discount and any allowance
• Decide when contributed services are recognized, and present contributed nonfinancial assets
• Identify transfers an NFP receives as an agent, trustee or intermediary that are not its contributions