Seniors' Resource Center
Seniors’ Resource Center – Financial Management Policies: Revenue and Income Procedures
All contributions shall be recorded in accordance with GAAP, with specific attention to
standards FASB 116 and 117. Contributions are recorded as pledged or received in
accordance with FASB 116, and must be credited to the appropriate revenue lines as
presented in the annual budget and coded with the appropriate account number as
designated in the Agency’s Chart of Accounts.