Grants and contracts implementation tool for not-for-profits

FASB ASU No. 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, addresses the implications of FASB ASU No. 2014-09, Revenue from Contracts with Customers, on the grants and contracts of not-for-profit entities. ASU No. 2018-08 is effective for nonpublic, not-for-profit resource recipients for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. (See the ASU for effective dates applicable to not-for-profits that are classified as