NEW PRESENTATION AND DISCLOSURE REQUIREMENTS ON CONTRIBUTED NONFINANCIAL ASSETS: HERE’S WHAT YOU NEED TO KNOW

Contributions are one of the primary sources of funds for any Not-for-Profit Organizations (NPOs) that allow them to run daily operations. Contributions, though, are not limited to cash but take the form of in-kind items such as products or services. In recent years, the accounting of in-kind contributions has been a cause for concern, with