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Crowd Funding For Musicians Isn't The Future; It's The Present NPR (blog) By now, everyone's heard of Kickstarter, the website that lets people with an idea or project ask other people to contribute toward realizing it. It's called crowd funding, and this summer's big success story was musician Amanda Palmer. She raised more ... See all stories on this topic » | ||
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Crowdfunding Startup GoFundMe Launches Member Network Program, Now ... TechCrunch gofundme_logo. Crowdfunding startup GoFundMe is picking up steam, raising about $3 million in campaigns each month, compared to $2 million just three months ago. Now it's looking to accelerate its growth with a new partner program, where organizations ... See all stories on this topic » | ||
Crowdfunding presentation comes to Chandler's Innovations Incubator Phoenix Business Journal Small businesses looking for strategies to raise capital have an opportunity to learn about crowdfunding at a special presentation hosted by Snell & Wilmer LLP and Impact Business Accelerators. The event is slated for noon Oct. 10 at the Innovations ... See all stories on this topic » | ||
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Oz crowd-funding platform starts to see results Screen International Pozible, Australia's first and largest crowd-funding platform, has helped filmmakers raise $1.37m (A$1.3m) since its May 2010 launch, while total pledges have quadrupled in the past year. "At the moment it is sustainable but not profitable," said Rick ... See all stories on this topic » | ||
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Partnership Preview: Volunteer Forever, Your Gateway To Volunteering Abroad NorthcentralPa.com Billy: Online crowdfunding is a rapidly growing trend that involves facilitating the collective donations of a group of peers to support efforts initiated by an individual or organization. Crowdfunding websites allow users to tap into the power of ... See all stories on this topic » | ||
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Crowdfunding begins for London indie game café Crowdsourcing.org (blog) Crowdfunding begins for London indie game café. blog Crowdfunding. Crowdfunding begins for London indie game café. Description The Cornwall-based indie gaming café started its campaign on IndieGoGo last week. The appeal has already raised more ... 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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