Crowdfunding
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Crowdfunding initiative for innovative small companies Pharmacy Europe The outlook for the UK economy remains flat and innovative SMEs continue to face a squeeze on funding. The BioIndustry Association (BIA) today publishes a new report detailing a scheme to enable the British public to support the innovative businesses ... See all stories on this topic » | ||
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When A Kickstarter Campaign Fails, Does Anyone Get The Money Back? NPR (blog) Crowd funding began as a way to support the arts on the Internet. Artists could go online to pitch a new album, for example, in the hope that thousands would give small amounts. But now it's expanded to entrepreneurs, and the rules aren't quite as clear. See all stories on this topic » | ||
BIA says crowdfunding scheme could 'create 1500 jobs a year' PMLiVE The BioIndustry Association (BIA) has called on the UK government to introduce tax concessions for individuals who wish to invest in innovative national businesses. The Citizens' Innovation Funds (CIF) would "unlock the patriotic potential" of UK ... See all stories on this topic » | ||
Cafe Green and Java Green turn to crowdfunding model to pay off back taxes Bizjournals.com D.C.-based restaurants CaféGreen and Java Green owe more than $100,000 in unpaid taxes, and after being shut down by the District's Office of Tax and Revenue on Aug. 21 for being delinquent on taxes dating back to November 2010, the restaurants' ... See all stories on this topic » | ||
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GOING BIONIC: DISTRIBUTING INDEPENDENT FILMS INTERNATIONALLY ... Film Threat Want to see your campaign here? Submit via our Crowdfunding Widget! Follow @FilmThreat. Recent Posts. GOING BIONIC: DISTRIBUTING INDEPENDENT FILMS INTERNATIONALLY – DISTRIBUTING WITHOUT DISTRIBUTORS, PART 2 · CONNECTED ... See all stories on this topic » | ||
The Financialist: 'The role of crowdfunding' MindfulMoney Investors need to remain wary of involving themselves in IPOs · The Financialist: 'The role of crowdfunding' · Eurozone PMIs – Reasons to be cheerful? Is Goldman Sachs to blame for everything? The Financialist +:'What does Bernanke's Jackson hole ... See all stories on this topic » | ||
UInvest Announces a Crowdfunding Conference MarketWatch (press release) BEVERLY HILLS, Calif., Sep 4, 2012 (GlobeNewswire via COMTEX) -- via PRWEB - Today UInvest ( http://www.uinvest.com.ua ) has announced the keynote speakers for the UInvest International Conference 2012 - "Building Connections" that will take place ... 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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