Unconditional promises to give that are restricted for the purpose of acquiring fixed assets should be recognized

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Unconditional promises to give that are restricted for the purpose of acquiring fixed assets should be recognized as contributions revenue by nongovernment VHWOs and ONPOs in the period(s) that:

a. the unconditional promises are made.

b. the promised amounts are received.

c. the donated resources are used to acquire the fixed assets.

d. the assets purchased with the donated resources are used.

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Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

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Question Posted: Feb 24, 2024 05:01 AM

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Unconditional promises to give that are restricted for the purpose of acquiring fixed assets should be recognized

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Governmental And Nonprofit Accounting Theory And Practice

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