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

Determine the accounts payable days, SQB Corporation reports sales of $10,0...

SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%.  20% of SQB's sales are on credit.       Year 1 Year 2

Inventory, Inventory Within a trading firm, inventory is merchandise he...

Inventory Within a trading firm, inventory is merchandise held for sale to customers into the ordinary course of business. In condition of manufacturing firms, inventory would

Development costs in its financial statements , AB Limited is a manufacturi...

AB Limited is a manufacturing entity that runs a number of operations including a bottling plant that bottles carbonated soft drinks. AB has been developing a new bottling process

Sacred grounds coffee shop, To finish  this scenario, use the Confidence In...

To finish  this scenario, use the Confidence Interval Calculator Sheets 1,2,3. The Sacred Grounds coffee shop in Dead horse, AK, is considering changing its coffee brewing units

Data attributes for every entity, Make a new information system for this co...

Make a new information system for this company. Your solution should contain the following items: 1.  An overview of the primary features of the new system, describing why this

Accounting error, the books of deven verma could not be tallied.

the books of deven verma could not be tallied.

Conceptual Framework , i have an assignment that is requiring me to build m...

i have an assignment that is requiring me to build my own Accounting framework. this assignment is not a research or textual assignment it must have a thinking process, so i can an

Objectives of final accounts, Objectives of final accounts describe ...

Objectives of final accounts describe Final Account; know their objectives and preparation of Trading and Loss and Profit Account; find out the difference among Trad

Retirement, 2. Now assume that you have been asked how to account for the d...

2. Now assume that you have been asked how to account for the destroyed drilling operation in the Gulf of Mexico in terms of the destroyed rig and lost natural resources. For the p

Write Your Message!

Captcha
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