1. Under GAAP, when is an organization allowed to say that some of the costs of a...
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Question:
1. Under GAAP, when is an organization allowed to say that some of the costs of a mailing that includes both educational material and fundraising requests should be treated as program expenses?
Never – if any part of the mailing was fundraising, all costs are considered fundraising
Always – FASB has decided this is a matter for professional judgment of what is reasonable, and has declined to set specific criteria.
Only if the mailing meets the FASB’s purpose, content, and audience criteria.
As long as there is valid educational material in the mailing.
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
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