March 2014
Intermediate to advanced
584 pages
17h 54m
English
book
Wiley Not-for-Profit GAAP 2014: Interpretation and Application of Generally Accepted Accounting Principles
by Richard F. Larkin, Marie DiTommaso
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9 CONTRIBUTIONS, PLEDGES, AND NONCASH CONTRIBUTIONS
Current restricted contributions
Fixed assets (land, buildings, and equipment), and supplies
Fundraising and informational materials or advertising
Contributed services of volunteers
Services provided by other organizations
Support Not Currently Expendable
Troubled Debt Restructurings—Creditors
PERSPECTIVE AND ISSUES
This chapter addresses the problems of recording and reporting the principal resource most not-for-profit organizations depend on—contributions. An organization can receive contributions with a wide range of restrictions attached. First these contributions must be recorded in the proper net asset classification; then they must be reported in such a way that the financial statement reader is fully aware of their receipt and any restrictions on them. In addition there has been, and continues to be, considerable controversy surrounding the timing of the recording of different types of gifts as income.
Some contributions are made in the form of pledges that will be paid off over a period of time or at ...
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