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

Accounting principle, A company values its loose tools for inclusion in its...

A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them. Which type of accou

American municipal bond assurance corporation, The first municipal bond ins...

The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri

Constructing a balance sheet, Comprising examined the conceptual origin of ...

Comprising examined the conceptual origin of the balance sheet we will here try to study the balance sheet by itself. We have observed that every transaction influences the financi

Payable.., how many tipe of accounts

how many tipe of accounts

Accounting Practices, Describe three examples of financial accounting pract...

Describe three examples of financial accounting practices and for each, explain how the practice assists in the decision making process

ASC 905 and IAS 41, Review and discuss what the general rules are for agric...

Review and discuss what the general rules are for agricultural produce using US GAAP and IFRS.

Linear programming, 3. Solve the following Linear Programming Problem usin...

3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

Explain the meaning of social accounting, QUESTION Social accounting is...

QUESTION Social accounting is a way of measuring and reporting on an organisation's social and ethical performance. It is principally concerned with offering a complementary fo

Revenue recognisation, what all include in company revenue recoganisation

what all include in company revenue recoganisation

Accounting process, In previous section you learnt about the accounting inv...

In previous section you learnt about the accounting involves four stages: (i) recording the transactions, (ii) classifying-the transactions, (iii) summarising the trans

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