Consider FASB standards for accounting for contributions and answer the following: a. Outline…

Consider FASB standards for accounting for contributions and answer the following: a. Outline…

Consider FASB standards for accounting for contributions and answer the following:

a. Outline revenue recognition criteria for resources restricted for (1) time and (2) purpose.

b. Describe the difference in accounting for contributions with a condition and a restriction.

c. Outline the requirements for recognizing contributed services as revenue.

d. Outline accounting for multiyear pledges.

 

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