The new GASB 81 standard should be applied retroactively by re-presenting the financial statements for all prior periods presented. If you have split interest agreements, you may need to go online with old agreements to adopt the standard retroactively. The main key to successful acceptance and application is to verify each agreement separately to ensure proper accounting. At the end of the split interest agreement, an amount necessary to reduce to zero all assets and liabilities related to the agreement must be entered in the specifications as a change in the value of the split interest agreements. That amount should, where appropriate, be considered unlimited, temporary or permanent. All distributions previously received under the agreement and available to the non-profit organisation for full use after the termination of the agreement should be temporarily reclassified limited to total net assets. The complications associated with split interest agreements are enormous. First, it can often be difficult to know when the gifts received by a nonprofit actually come from a split interest agreement and not from more traditional annual donations. While the flow of assets (consistent annual amounts) cannot be different from one type of levy to another, the correct record can be very different, in accordance with generally accepted accounting standards (GAAP). .