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

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.
Posted Date: 3/18/2013 5:08:41 PM | Location : United States







Related Discussions:- When do I have to book a multi-year pledge, Assignment Help, Ask Question on When do I have to book a multi-year pledge, Get Answer, Expert's Help, When do I have to book a multi-year pledge Discussions

Write discussion on When do I have to book a multi-year pledge
Your posts are moderated
Related Questions
The subsequent items are debited in the profit and loss account as: 1. Administrative expenses comprising office salaries, office lighting, office rent, printing, director's fee

Accounting like a field of study in its developmental process has evolved a theoretical framework consisting of concepts or principles over period of time. Such concepts enjoy a wi


Development of financial accounting standards Several organizations are considerable in the establishment of generally accepted accounting principles (GAAP) for businesses or g

In 1984 the Governmental Accounting Standards Board (GASB) was recognized with a fulltime chairperson and four part-time members. The GASB issues statements on financial and accoun

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

What take place in a rights issue of shares? 1. Any premium on issue is added to a capital reserve. 2. Any type of premium on the issue is added to a revenue reserve. 3. A

Governing Documents - Official legal documents which dictate how an entity is operated. Governing documents of a CORPORATION include ARTICLES OF INCORPORATION and BYLAWS; a PARTNER

In 1973 and independent seven-member full-time Financial Accounting Standards Board (FASB) replaced the Accounting Principles Board. The FASB has published numerous Statements of F

i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is