NOT2348. GIK: Presentation, Reporting, and Accounting Issues (ONLINE ONLY)

This session will dive into the complexities of accounting for and reporting on in-kind gifts (GIK): Lessons learned from implementation of FASB ASU 2020-07, complex issues of how to recognize GIK in the accounting records, and how GIK may impact a charities' charitable solicitations.

Learning Objectives:

• Identify situations requiring in-kind contributions be reported.
• Analyze in-kind contributions properly.
• Determine the accounting treatment for in-kind contributions.
• Analyze to ensure proper disclosures are included.