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deferred revenue
Deferred revenue consists of membership dues and amounts re-ceived to reserve exhibit booth space and registration fees for annual meetings, conventions and seminars. The Association recognizes con-vention related revenues when the convention, meeting or seminar has occurred. Membership dues are recognized on a pro rata basis over the annual membership period.
unrestricted Net Assets
Unrestricted net assets are available for use in general operations.
revenue and expense recognition
Support and revenue are recognized in the year in which they are earned, and expenses are recognized when incurred. Expenses paid in advance and not yet incurred are deferred to the applicable period.
Unconditional promises to give (contributions) are recognized as rev-enues and assets in the period the promise is received. Conditional promises to give are recognized when the conditions on which they depend are substantially met.
functional Allocation of expenses
The costs of providing various programs and other activities have been summarized on a functional basis in the combined statements of activities. Accordingly, certain costs have been allocated among the programs and supporting services benefited.
use of estimates
The preparation of the combined financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the combined financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
financial Instruments and credit risk
Financial instruments which potentially subject the Association to concentrations of credit risk consist principally of investments held at creditworthy financial institutions. By policy, these invest-ments are kept within limits designed to prevent risks caused by concentration. Credit risk with respect to trade and other receivables is limited because the Association deals with a large number of customers over a wide geographic area.
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本文链接地址：2010 nbaa annual report 2010 nbaa 年度报告(20)
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