| ||
No need to wait for crowdfunding Bizjournals.com A handful of upstarts are working to make crowdfunding a reality—now. They're creating platforms using existing rules that give businesses the chance to raise money online, and offer investors a chance to roll the dice on private companies, no matter ... See all stories on this topic » | ||
Online Ticketing Startup Picatic Launches EventTilt, Its Kickstarter For Events TechCrunch Crowdfunding is all the rage these days, isn't it? People are crowdfunding their hardware startups, crowdfunding their insurance bills, even crowdfunding their honeymoons. And now you can crowdfund concerts and other events. Online ticketing startup ... See all stories on this topic » | ||
| ||
UK founder of world's first equity crowdfunding site coming to Toronto ITBusiness.ca Darren Westlake co-founded UK-based Crowdcube, which went online in 2010 calling itself the first equity crowdfunding site ever launched. He will take part in a panel discussion on whether investment crowdfunding can be a viable growth accelerator for ... See all stories on this topic » | ||
| ||
Business Compliance Partners Reviews NASAA's List of Emerging and ... Crowdsourcing.org "NASAA members are particularly concerned about two provisions of the recently passed [Jumpstart our Business Startups] ("JOBS") Act that could unwittingly open a floodgate of fraud. These include provisions to expand crowdfunding to allow businesses ... See all stories on this topic » | ||
Taking crowdfunding to the Philippines Crowdsourcing.org But with more than 9m Filipinos living overseas with earnings that last year were more than $20bn – accounting for more than 10 per cent of the country's GDP – Mr Garrido believes these Filipino ex-pats could potentially be engaged, through ... See all stories on this topic » | ||
SEC Chair & Former Chair Challenged To Cage Match For Right To Determine ... Crowdsourcing.org (blog) Description The federal government using the infinite wisdom that has led to a $15 trillion deficit has decided to order the SEC inject itself into private lives by requiring people who want to go into crowdfunding to register all in the name of fiscal ... See all stories on this topic » | ||
Comedienne Josie Long launches scheme to fund new Glasgow-based film stv.tv Arriving back in Scotland following the success of her Foster's Comedy Award-nominated Fringe Show, Josie has launched a crowdfunding scheme to help finance the film, called Romance and Adventure. Crowdfunding plan will help Josie to oversee costs ... See all stories on this topic » | ||
Greenpop turns two, Makhulu seeks crowdfunding Crowdsourcing.org Description In order to turn this effort into a full-length feature called Losing Livingstone, Makhulu aims to raise USD20 000 via crowdfunding on Indiegogo. "With the money we raise, we will focus on a feature-length documentary about deforestation ... 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...
Comments
Post a Comment