When should unconditional pledges be recorded as revenue?

Question

Quizplus · Accepted Answer

Unconditional pledges should be recorded as revenue when the pledge is made, regardless of whether or not the pledge has been collected. This is because the pledge is a promise to provide funds in the future and meets the revenue recognition criteria of being probable and estimable. The fact that the payment has not yet been received or is uncertain does not prevent recognition of the revenue.

When Should Unconditional Pledges Be Recorded as Revenue