When do I have to book a multi-year pledge, Accounting Standards

When do I have to book a multi-year pledge, Accounting Standards

Assignment Help:

Hi,

I work at a non-profit that recently received a $250,000 stock donation which is payment for a $1M pledge. The donor has written in an e-mail that he would like to give us the $1M. I know we recorde the $250,000 already received as revenue but am I required to book the $750,000 pledge if the donor plans to send $250,000 the next 3 years? We would rather not record the pledge in case the donor decides not to fulfill the pledge but didn''t know if accounting rule requires us to record the pledge.

Related Discussions:- When do I have to book a multi-year pledge

The Banking, 1. What is a bank? 2. What bank overdraft?

1. What is a bank? 2. What bank overdraft?

Journalize , JWS Transport Company’s employees earn vacation time at the ra...

JWS Transport Company’s employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately (that is, an employee is entitled to the pay

Accounting policy , As of 2005, consolidated financial statements of listed...

As of 2005, consolidated financial statements of listed companies in the European Union are required to be prepared in accordance with IFRSs. Complete the following accounting p

Accounting, During 2011, Lavina Corporation had cash and credit sales of $9...

During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of

IFRS, DOES THE ADOPTION OF IFRS BY DIFFERENT COUNTRIES NECESSARILY MEAN ACC...

DOES THE ADOPTION OF IFRS BY DIFFERENT COUNTRIES NECESSARILY MEAN ACCOUNTING PROCEDURES AND PRACTICES THEY ADOPT WILL BE CONSISTENT AND COMPARABLE INTERNATIONALLY

Accounting standards, Within today's international business environment, th...

Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards (also known as GAAP), with

#titISA 8le.., #question STATEMENT OF COMPERIHENSIVE INCOME

#question STATEMENT OF COMPERIHENSIVE INCOME

Accounting education change commission, Q. Accounting Education Change Comm...

Q. Accounting Education Change Commission? Accountants in practice as well as business executives have generally been dissatisfied with accounting graduates' capability to thin

INVESTING ACTIVITIES, ASSIGNMENT

ASSIGNMENT

Explain the procedure followed in government system , Explain the procedure...

Explain the procedure followed in government system of accounting in india

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

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