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Basis of combination
The combined financial statements are presented on an accrual basis of accounting and include the accounts of NBAA, NBAA Charities and EBACE (collectively referred to as “the Association”). NBAA Charities has been combined as required under accounting principles gener-ally accepted in the United States of America due to the presence of common control. As a result of the overall management func-tion by NBAA for EBACE, combined statements are presented. All intercompany balances and transactions have been eliminated in the combination.
cash and cash equivalents
The Association considers all highly liquid instruments, which are to be used for current operations and which have an original maturity of three months or less, to be cash and cash equivalents. All other highly liquid instruments, which are to be used for the long-term purposes of the Association, are classified as investments.
Accounts receivable
Accounts receivable consists primarily of amounts due from the sale of exhibit space, sponsorships, advertising, publications, and convention registrations. The allowance method is used to determine the uncollectible amounts. The allowance is based upon prior years’ experience and management’s analysis of subsequent collections.
Investments in marketable securities
Equity securities and all debt securities are carried at readily de-terminable fair market values. Interest, dividends, unrealized and realized gains and losses are included in the combined statements of activities.
furniture and equipment
Furniture and equipment are recorded at cost. The Association capitalizes all expenditures for furniture and equipment over $500. Depreciation and amortization are computed using the straight line method over the estimated useful lives of the assets ranging from three to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the useful life of the asset or the remaining term of the lease. When assets are sold or otherwise disposed of, the asset and related accumulated depreciation and amortization are removed from the accounts, and any remaining gain or loss is included in operations. Repairs and maintenance are charged to expense when incurred.
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本文链接地址：2010 nbaa annual report 2010 nbaa 年度报告(19)
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