Detail Raising or Holding Contributions For Others   Oleh:  Luecke, Randall W. ; Meeting, David T. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 189 no. 6 (2000), page 47-56. Topik: contributions; raising; holding contributions Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Despite the best intentions, standards sometimes create more confusion than they resolve. For example, not - for - profit organizations that collect or solicit contributions on behalf of other NPO s have had difficulty determining when they are donors or donees or agents, trustees or intermediaries. Accordingly, it has been difficult for them to decide what to report as assets, liabilities, contribution revenues and donation expenses. This confusion is largely a result of paragraph 4 of FASB Statement no. 116, Accounting for Contributions Received and Contributions Made, issued in 1993. That paragraph says the statement does not apply to asset transfers in which the reporting entity acts as an agent, trustee or intermediary rather than as a donor or donee. Community foundations and other interested parties asked FASB to provide an interpretation of paragraph 4. Other NPOs, including institutionally related foundations and federated fundraising organizations, asked FASB to expand the scope of its project to describe the circumstances under which they could report assets received as contributions. Some entities expressed concern that a broad interpretation of paragraph 4 would require them to not account for many of their activities as contributions received and made, resulting in understated revenues and expenses. Recording only some fundraising activities as contributions could understate the amounts raised and make many key financial ratios that NPO s use meaningless, resulting in misleading financial statements. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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