This is different from an exchange transaction, in which each party receives and gives up essentially equal values.
Different standards apply for each kind of stipulation.
Time requirements affect the timing of recognition of nonexchange transactions. Purpose restrictions specify the purpose for which resources are required to be used. Purpose restrictions should not affect when a nonexchange transaction is recognized. However, for revenue recognition to occur on the modified accrual basis, the criteria established in this Statement for accrual-basis recognition should have been met and the revenues should be available. Also, this Statement continues the guidance in NCGA Interpretation 3, Revenue Recognition Property Taxes, as amended, for recognizing property taxes on the modified accrual basis of accounting.