Crowdfunding
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Crowdfunding video games The Economist SINCE its launch three years ago, Kickstarter, a website on which people who want to make things can ask other people to pay for their projects, has offered hope to penniless musicians, artists and designers. But what the world's modern Medicis really ... See all stories on this topic » | ||
Crowdfunding letter campaign targets politicians in five provinces ITBusiness.ca Starting this week, the Ontario wing of Invest CrowdFund Canada (ICC) is sending letters to Ontario MPPs asking for support to legalize equity crowdfunding in Canada. Similar letter writing campaigns will follow in British Columbia, Alberta, Quebec and ... See all stories on this topic » | ||
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Small satellite aims for launch thanks to money from crowd-funding Anderson Independent Mail To DeBenedictis, crowd-funding is part of the project's point. A lifelong space buff whose company sells astronomy apps, he wants people to feel connected to space and excited about space travel again -- the way they did during the Apollo moon landings ... See all stories on this topic » | ||
Lowell man charged in crowd-funding fraud The Sun BOSTON -- A Lowell man who founded and manages Tabletop Arena LLC has been accused of "crowd-funding fraud'' by the Secretary of State's Office. Christopher Melville, of Lowell, allegedly sold unregistered securities through a crowd-funding social ... See all stories on this topic » | ||
FundedByMe Launches Equity Crowdfunding Platform ArcticStartup Sweden's FundedByMe has launched their Equity Crowdfunding platform to the public, making it another player in the Nordic equity crowdfunding scene. FundedByMe already offers a crowdfunding platforms similar to Kickstarter, which repays investments ... See all stories on this topic » | ||
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Outgrow.Me: Where Kickstarter Projects Go When They Mature Huffington Post SF: My background with crowdfunding is nothing more than as a backer and fan of crowdfunding projects. I didn't have any web development experience prior to Outgrow.me. I had the idea and thought "This doesn't seem to difficult!" How wrong I was. See all stories on this topic » | ||
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Banktothefuture.com selects Equifax for ID verification Creditman Equifax has also a strong track record of working with the developing social funding market and is particularly excited about the emergence of 'CrowdFunding' being offered by BankToTheFuture.com and other new entrants. Peer-to-peer and social lending ... See all stories on this topic » |
A start-up using crowd funding to create a product is different from a normal company. The start-up has cash inflows from donations but does not have a product, yet. In this situation, we recommend using completed-contract method to recognize revenue. Under this way of thinking, we assume the start-up is akin to a project or a long-term contract. The crowdfunding company will find it difficult to estimate the revenue from crowdfunders and, hence, the cost of rewards or perks. Under International Financial Reporting Standards (IFRS) and GAAP guidelines, if the firm cannot reliably measure the outcome of the project, revenue should be recognized based on contract costs. These costs should be expensed when incurred. Profit is recognized only at the completion of the project. In summary, for crowdfunding companies, revenue, expense, and profit are recognized only when the crowdfunded product is actually manufactured. 1 For example, assume that AAA Corp. wants to manufacture bicyc...
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