The Foundation for Educational Excellence has decided to support the Tri-County School Districts series of teacher training
Question:
1. The foundation agrees to reimburse the district for all workshop costs up to $200,000.
2. The foundation is pleased to enclose a check for $200,000 to be used exclusively to support a series of teacher training workshops intended to improve instruction in mathematics.
3. The foundation will donate $200,000 to the school district as soon as the district conducts its planned series of teacher training workshops, intended to improve instruction in mathematics.
4. The foundation is pleased to enclose a check for $200,000 to be used exclusively to support a series of teacher training workshops intended to improve instruction in mathematics. The workshops are to be conducted between January 1 and December 31, 2016. The school district expects to conduct the workshops in 2016.
Explain how the wording of the grant agreement would affect the year in which the school district recognized revenue. Indicate the relevant restriction, contingency, or eligibility requirement (e.g., time requirement; purpose restriction) to which each grant is subject and explain how it bears upon the issue of revenue recognition.
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Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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