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Reuters on the Road: Crowdfunding fills cash void Reuters Reuters on the Road: Crowdfunding fills cash void. ReutersVideo. Subscribe Subscribed Unsubscribe. Loading... 18,162 videos. Loading... Alert icon. You need Adobe Flash Player to watch this video. Download it from Adobe. Alert icon. Close. Upgrade to ... See all stories on this topic » | ||
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The pitfalls of crowd funding, Financing their dreams has gotten easier for ... Bend Bulletin The project's creators raised close to $1.5 million through Kickstarter, a crowd-funding website, and promised to start shipping their Elevation Dock in April to those who had backed the project. But last week Apple announced a redesigned iPhone that ... See all stories on this topic » | ||
Taking crowdfunding to the Philippines Financial Times When Melbourne University invited students to submit business plans for their annual entrepreneurship challenge (MUEC) in May, Justin Garrido, an MBA student studying at Melbourne Business School, felt confident about his entry – Social Project PH. See all stories on this topic » | ||
'BlackSpace' Partners With NVIDIA, Seeks Crowd Funding WorthPlaying.com 'BlackSpace' Partners With NVIDIA, Seeks Crowd Funding. by Rainier on Sept. 19, 2012 @ 6:14 a.m. PDT. BlackSpace is a unique form of real-time strategy, combining elements of action with an emphasis on economic and defensive efficiency. Players will ... See all stories on this topic » | ||
Indiewire's Crowdfunding Market: Help Digitize 100 Miles of Old Film Indie Wire Indiewire's Crowdfunding Market scours Kickstarter, IndieGoGo and other crowdfunding sites to find awesome films looking for distribution and outreach funds and filmmaking tools that deserve your support. Because these projects will be for films and ... See all stories on this topic » | ||
Creative Audio Archive crowdfunding 15-year archive of Chicago's underground ... Tiny Mix Tapes The Wire is spreading the news about a new crowdfunding initiative to help preserve 15 years worth of sound archives documenting the Chicago underground music scene from 1981 to 1996. Diligently compiled by Malachi Ritscher, a fixture at Chicago ... See all stories on this topic » | ||
Bolstr Launches at Finovate - Brings Crowdfunding to Main Street Crowdsourcing.org The team at Bolstr launched the first investment-based crowdfunding platform for main street small businesses at Finovate – "a two-day showcase of the best new innovations in financial and banking technology." Bolstr takes a local approach to ... 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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