Health Center Accounting: A Refresher on Grants & Contributions
March 28, 2024
CHCs have had many opportunities to practice accounting for grants and contributions since implementing ASU 2018-08. Now that the newness has worn off, let’s revisit the key concepts in Topic 958-605 as they relate to grant and contribution accounting. In this informative webinar, we'll apply the standard to real grant and contribution awards received by CHCs. Reaching the conclusion of whether an award represents an exchange transaction, is conditional, or has donor-imposed restrictions is only the first step. The presenters will spend time illustrating journal entries for each grant and contribution award covered. An updated handout will be utilized for the examples and provided to participants to aid them in evaluating their own grants and contributions and applying their knowledge through proper accounting.
Learning Objectives
Upon completion of this program, participants will be able to:
- Identify exchange transactions from contributions.
- Distinguish between donor-imposed conditions and donor-imposed restrictions.
- Recall appropriate financial statement presentation and disclosure, including journal entries required, based on the conclusion under Topic 958.
Presenters
Ally Jackson, Dylan Lyon