Found 813 Results
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
We have a tourism grant that we are awarded for events specifically. Should we recognize the revenue when we are told it’s been approved or…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
Why isn’t the capital campaign revenue moved to unrestricted as construction costs are occurring and being paid? Is the delay to completion related to the…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
Does the need for a quarterly report qualify as a “condition” / barrier to fulfillment of the gift? Say I get a $100 grant x…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
Hi! In the first case, we would not discount the revenue related to the quarterly matching challenge. Pursuant to the “twist in the facts”, we…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
In Case Study #1: What if the $250k is also purpose restricted for the building to be used as a shelter? If it is not…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
Hi! We should record revenue right away when it becomes unconditional. So while we should not wait, we should use our best attempt to not…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
For Case Study 2: Can you tell us again what makes this a grant (contribution) rather than a contract (earned)?
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
Thank you for this great training. When recording revenue that we’re being reimbursed for, is there any reason to hold off recording revenue till we…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
For case 1, how would you initially book the discount. Would you actually book the discount for years 2 – 4? What would be the…
Reply To: Discussion with Gina McDonald for 8.15.23 Revenue Recognition Event
In Case Study 1: Why do we even book pledges (with restrictions)? Why not just book the contributions as received when they come in?