SFAS No.117 requires that support from special events,if related to the central ongoing and major activities of the organization,and related direct costs,be reported at their gross amounts in the statement of activities rather than reporting the special events support net of direct costs.

Question

Quizplus · Accepted Answer

However, netting direct costs against special events support is permitted if the special events are of a peripheral or incidental nature.

SFAS No117 Requires That Support from Special Events,if Related to the the Central