The need for an accounting standards setting

Assignment Help Accounting Basics
Reference no: EM13867285

Several not for profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not- for- profit entities should recognize pledges as revenues when the cash is actually received. Others would recognize revenues when the pledges are made subject to a pro-vision for amounts not likely to be collected. Based on that scenario discuss (a) the need for an accounting standards setting body (b) the qualifications that members of that body should possess, and (c) the procedures that body should adopt in establishing accounting standards.

Reference no: EM13867285

Questions Cloud

Give an explanation using the four classification criteria. : Use the information in RE21-3. Prepare the journal entries that Richie Company (the lessor) would make in the first year of the lease assuming the lease is classified as a sales type lease.
Sketch two alternative alignments : Sketch two alternative alignments. Choose one alignment for your design. Justify. Locate your alignment considering both vertical and horizontal controls. Coordinate both horizontal and vertical alignments.
Give an explanation using the four classification criteria. : Use the information in RE21-3. Prepare the journal entries that Richie Company (the lessor) would make in the first year of the lease assuming the lease is classified as a sales type lease.
Configuring a network to use tranfer the files : configuring a network
The need for an accounting standards setting : the need for an accounting standards setting body the qualifications that members of that body should possess, and the procedures that body should adopt in establishing accounting standards.
Steel beam has the cross-sectional area : Problem 1: The Steel beam has the cross-sectional area shown and the steel has elastic constant of E = 210 GPa, v = 0.3. The thickness of vertical wall is 6 mm and those for horizontal are 4 mm. For the flange,b1 = 60 mm and b2 = 120 mm. the heigh..
Project on networking and telecommunications : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 N..
What did ford do to improve this evaluation system : Why was Font's evaluation system, the PMP, the source of contention for Ford employees who felt discriminated against? In moving away from the PMP, what did Ford do to improve this evaluation system? Did these changes create a more accurate system..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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