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crowd-funding CNET (blog) Ultimate Reception is a campaign on crowd-funding site IndieGoGo aimed at developing a magnetic football and gloves that improve catching ability. Actually, the gloves are embedded with powerful magnets that attract a special layer in the football's skin. See all stories on this topic » | ||
Bandtastic Joins Concert Crowdfunding Miniboom hypebot.com With what is described as a "modified crowdfunding model", Bandtastic joins a growing group of music concert crowdfunding services. Previous concert crowdfunding sites covered at Hypebot include GigFunder, based in Chicago, and Queremos!, a Brazilian ... See all stories on this topic » | ||
FundaGeek Launches Portal for Education New Portal Provides Crowdfunding ... ParamusPost.com FundaGeek is a recently launched crowdfunding platform expressly for technology, scientific research, inventions, community support and education. In the past several years, crowdfunding has seen tremendous interest from creative people in the arts ... See all stories on this topic » | ||
Crowdfunding site for community energy projects gets the green light Cabume - Cambridge technology news Microgenius takes the crowdfunding concept of getting large groups of people to pool their money and points it at local sustainable energy projects – cooperatives and community benefit societies – such as solar panels for schools, village wind turbines ... See all stories on this topic » | ||
A stream of alternative finance options printweek.com Crowdfunding enables people to raise money for innovative new projects by getting like-minded individuals to pool their money to back the idea, person or business. The model is breathtakingly simple. The person seeking funding posts their business plan ... See all stories on this topic » | ||
Social crowdfunding site StartSomeGood announces launch in 20th ... PRWire Social crowdfunding site StartSomeGood announces launch in 20th international market. Funding platform to boost social enterprise sector in Asia-Pacific and beyond. WEDNESDAY, SEPTEMBER 12: FOR IMMEDIATE RELEASE. · Australian co-founder ... See all stories on this topic » | ||
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Small Business Challenge Offers $50000 in Prize Money HispanicBusiness.com Miami-based EarlyShares.com, an equity-based online crowdfunding platform, has helped launch the Small Business Challenge, offering $50,000 in prizes to help small businesses grow and hire new employees. According to EarlyShares, the key sponsor of ... See all stories on this topic » | ||
The Fate of The Kickstarter Generation Gamersyndrome Crowd funding, and unavoidably Kickstarter.com, is one of those things that you can't quite make generalizations about because it encompasses a multitude of different odds and ends, from Video Games to advanced wristwatches. But we can all certainly ... 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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