The FASB generally requires that not-for-profit organizations record unconditional pledges as support (contributions) only when received in cash.

Question

Quizplus · Accepted Answer

The FASB allows not-for-profit organizations to record unconditional pledges as support (contributions) when they are "pledged with a reasonable expectation of being collected" even if they have not yet been received in cash. However, the organization must disclose information about the unfulfilled pledges in the footnotes of their financial statements.

The FASB Generally Requires That Not-For-Profit Organizations Record Unconditional Pledges