# ASC 310-958-55: Receivables — Not-for-Profit Entities — 55 Implementation Guidance and Illustrations

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/310/958/#55-implementation-guidance-and-illustrations)

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## ASC 310-958-55: 55 Implementation Guidance and Illustrations

[Read section](https://asc.understandingaccounting.org/asc/310/958/#55-implementation-guidance-and-illustrations)

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#### Illustrations

##### [310-958-55-1](https://asc.understandingaccounting.org/asc/310/958/#310-958-55-1)

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This Example illustrates the accounting for changes in the value of [unconditional promises to give](https://asc.understandingaccounting.org/glossary/u/#unconditional-promise-to-give "A promise to give that depends only on passage of time or demand by the promisee for performance.") after initial recognition but before collection, pursuant to paragraphs

[958-310-35-7 through 35-13](https://asc.understandingaccounting.org/asc/310/958/#310-958-35-7)

, if those [promises to give](https://asc.understandingaccounting.org/glossary/p/#promise-to-give "A written or oral agreement to contribute cash or other assets to another entity. A promise carries rights and obligations—the recipient of a promise to give has a right to expect that the promised assets will be transferred in the future, and the maker has a social and moral obligation, and generally a legal obligation, to make the promised transfer. A promise to give may be either conditional or unconditional.") are not measured subsequently at [fair value](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date."). The following table illustrates the reason for the change in value.

-   ![ ](https://asc.understandingaccounting.org/asc-img/GUID-B43C28CB-FEFD-4760-B2AE-0A7CF114753E-low.gif)
    
    Reason for the Change in Fair Value Underlying Asset Change in Collectibility of the Receivable Change in the Fair Value of the Underlying Asset Increase in Fair Value Decrease in Fair Value Increase in Future Fair Value "Decrease in Future Fair Value" Cash No adjustment (a) Recognize expense or loss (bad debt) Not applicable Not applicable Securities (b) No adjustment (a) Recognize expense or loss (bad debt) Recognize additional contribution revenue Recognize a decrease in contribution revenue Other assets No adjustment (a) Recognize expense or loss (bad debt) No adjustment Recognize a decrease in contribution revenue (a) "Recoveries of previously recognized decreases in fair value resulting from changes in estimates of collectibility (up to the amount of decreases previously recognized), however, shall be recognized as reductions of bad debt expense or loss." (b) "For purposes of this table, securities are defined as equity securities with readily determinable fair values and all debt securities, consistent with the use of the terms in Subtopic 958-320."