Fasb and donations

Assignment Help Accounting Basics
Reference no: EM1365290

Let's talk about donated services. Clearly unique to nonprofits (well, I've never heard of anyone willingly donating their time and efforts to General Motors, but I guess it's possible) - What does FASB say about donated services? What do you think of the comment regarding the issue of the value of services being reliably measured?

Please cite in paragraph and post bilbliography.

Reference no: EM1365290

Questions Cloud

What is the force on a test charge q at the center : What is the force on a test charge Q at the center.
Elucidate what other evidence could a manager look : Elucidate what other evidence could a manager look for to infer whether a market is in equilibrium. What are possible causes of the shortage.
Fasb versus gasb : FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules. What are the similarities and differences in the accounting pract..
With what speed would the arrow leave the bow : with what speed would the arrow leave the bow.
Fasb and donations : Let's talk about donated services. Clearly unique to nonprofits (well, I've never heard of anyone willingly donating their time and efforts to General Motors, but I guess it's possible) - What does FASB say about donated services?
Why does technology impact the culture of an organization : How does technology impact the culture of an organization and Have you been impacted by technology where you work
What would be the frequency of vibrations : what will be the frequency of vibrations. At one instant a bicyclist is 70m due east of a park's flagpole, going due south with a speed of 15m/s. Then, 19s later, the cyclist is 65m due north of the flagpole, going due east with a speed of 14 m/s.
Computing kanbans in production process : A manufacturer of thermostats uses a kanban system to control the flow of materials. The packaging center processes 10 thermostats an hour and receives completed thermostats every 30 minutes. Containers hold 5 thermostats each.
Explain the qualitative factors : Explain the qualitative factors that Ellis Quilting Company should consider before accepting a special order to sell blankets to Kent Motels.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analysis of business simulations

Do an Internet search to identify the types of games and business simulations that are available. Select one and provide a description and an analysis of it. Discuss the learning content objectives.

  Standard costs and variances

Dresser Company uses a standard cost system and sets predetermined overhead rates on the basis of direct labor-hours. The following data are taken from the company's budget for the current year: Prepare an analysis of the variance for material and ..

  Use of guaranteed payments in partnership

What kind of situation would make guaranteed payments a logical way of starting a two-person partnership?

  Froeign statement translation

Determine the inventory value using both the temporal and current methods. Show how this will be reflected on Royal Tea's statements and the consolidated statements of U.S. Beverages. Use the following information for this calculation:

  Break-even point and targeted profit

Since break-even focuses on making zero profit, is it of value in determining how many units must be sold to make a targeted profit? if so, what is it. I'm struggling to understand this. Examples would be great as references.

  Consolidation-journal entries

On January 1, 2007, the stockholders of Phillips and Solina agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquirer-Prepare the journal entries on the books of Phillips to record t..

  Computing-journalizing payroll amounts

Compute Welch's gross pay, payroll deductions, and net pay for the full year 2012. Round all amounts to the nearest dollar. Compute United's total 2012 payroll expense for Welch.

  Recording journal entries of investments

Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?

  Expense which is related to the company sole

In year 1 Laylor Company has revenues of $100,000, advertising expense of $22,000, depreciation of $15,000-what is expected for last four years. The cost of capital is 10%.

  Financing sources city enterprise fund

A city's Enterprise Fund issued revenue bonds with a face value of $10,000,000-the Enterprise Fund will report total other financing sources in the amount of

  Computing regular corporate tax and corporate amt

What is Gigantic Corporation's net tax liability if its taxable income is $325,000 and it has a general business credit of $125,000?

  Define variable and fixed costs

Define variable and fixed costs. Comment on how these costs are used to estimate future requirements. Discuss how contribution margin is used by managers for decision making.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd