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

Chart of accounts in myob , To establish and implement an accounting system...

To establish and implement an accounting system for Trigon Corporation, using MYOB accounting software. Needed: 1. Make and print a suitable chart of accounts in MYOB

Accounting defined, The American Accounting Association is one of the accou...

The American Accounting Association is one of the accounting organizations discussed later in this Introduction it defines accounting as "the process of measuring, identifying, and

Accounting standards, Along with a view to harmonise varying accounting pol...

Along with a view to harmonise varying accounting policies and practices recently utilize in India, the Institute of Chartered Accountants of India (ICAI) created the Accounting St

Accounting concepts, Accounting Concepts: The dual aspect principl...

Accounting Concepts: The dual aspect principle has specific relevance to balance sheet. According to this principal, every transaction is concerned as one that has dual ef

Long Term Assets, Now assume that you have been asked how to account for th...

Now assume that you have been asked how to account for the destroyed drilling operation in the Gulf Mexico in terms of the destroyed right and lost natural resources. Provide a rat

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

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

the books of deven verma could not be tallied.

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 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

Advance accounting, journal entry and balance sheet for acquisition

journal entry and balance sheet for acquisition

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