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

the books of deven verma could not be tallied.

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

Accounts receivable, These are amounts owed to the company through debtors....

These are amounts owed to the company through debtors. This is the purpose why we also utilize the term sundry debtors to indicate the amounts owed to the firm. This signifies amou

Accounting Theory And Practice, Explain the procedure followed in governmen...

Explain the procedure followed in government system of accounting in india

Balance sheet, Balance sheet is related along with reporting the financial ...

Balance sheet is related along with reporting the financial position of an entity on a specific point in time. Such position is conveyed in terms of listing all the things of value

Intangible assets, These are assets or things of value without physical dim...

These are assets or things of value without physical dimensions. They cannot be touched; they representing intrinsic value without material being and they are incorporeal. One of t

American women''s society of certified public accountants - a, It is a nati...

It is a national organization of female Certified Public Accountants (CPAs) in America. The AWSCPA was established to encourage the interests of female CPAs in America by diverse

What type of an asset is goodwill, What kinds of risks does a firm like Ama...

What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks? G

Revenue recognisation, what all include in company revenue recoganisation

what all include in company revenue recoganisation

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