31.Under FASB Statement No. 116, multiyear pledges are to be recorded as a pledge receivable for the total amount and contribution revenue will be recorded proportionally each year of the pledge.
32.Cash flows must be presented separately in the Statement of Cash Flows for the three classes (unrestricted, temporarily restricted, and permanently restricted).
33.Expenditures, encumbrances, and budgetary accounts are used by private not-for-profit organizations.
34.A not-for-profit organization receiving donated fixed assets may record those assets as either unrestricted or temporarily restricted.
35.Private not-for-profit organizations record depreciation expense.
36.Contributions to be paid in future periods should be recorded at present value.
37.Conditional pledges should not be recognized as revenue until the conditions have been met.
38.A Statement of Functional Expenses presents a matrix of expenses classified by function and by object or natural classification.
39.All donated services are recognized as revenue.
40.Donated services should be considered revenue if the service creates or enhances a nonfinancial asset and requires a specialized skill which would have had to be purchased if not donated.