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Anipopo, crowdfunding for anime to be launched DigitalJournal.com The Internet has provided a convenient means of procuring revenue, donations, profit, and all other funding. In terms of political campaigning, the Internet has proven to be an invaluable resource as it allowed supporters to directly donate to campaigns. See all stories on this topic » | ||
Crowd Funding the Man Who Wrote for Tony Hancock Ten Years After He Died Huffington Post UK (blog) Robert Ross has written books on the Carry On films, Fawlty Towers, Marty Feldman, The Goodies, Benny Hill, Frankie Howerd, Sid James, Monty Python - the list goes on and on and on. But his latest book Forgotten Heroes of Comedy is not being handled ... See all stories on this topic » | ||
Animation Crowdfunding Site Anipipo Launching Anime News Network The Japanese/Thai IT service development company Goopa launched a preview of its crowdfunding service Anipipo on Thursday. The service, which will be available in English and Japanese, is being developed to exclusively fund animated projects through ... See all stories on this topic » | ||
My Digital TV UHF Antenna Project [Crowdfunding Project on Pozible] Crowdsourcing.org Description In the years since, my filmmaking days, I used to install TV antennas and satellite dishes antenna. We've been more than just a technology business and have finished building and testing a compact prototype digital TV UHF, which is ... 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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