ASSOCIATED CREDIT is where a charitable or a not for profit entity (a university for example) may acknowledge the efforts of persons, other than the legal donor(s), who were instrumental in facilitating or providing for a gift by providing 'soft' (or associated) credit for gifts. Associated credit allows the entity to acknowledge these efforts without compromising the entity's legal obligation to record the gift according to IRS regulations. Associated credit is given for donor recognition purposes, allowing their names to be listed in publications such as the "Report to Contributors" and other donor recognition publications. For example an individual may write a corporate gift to a university, i.e. the individual would get the associated credit. Also known as SOFT CREDIT.
DECRETION is a decrease. See also ACCRETION.
BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).
Enter a term, then click the entry you would like to view.