Calculating taxpayer-assessed delinquent taxes will not be easy. For all taxes the revenue and receivable should be reduced by an appropriate allowance for uncollectible amounts. Other Revenue Sources Revenues from fines should be recognized when the fine is paid, when the time expires for the fine to be contested or when a court imposes the fine. In most cases, revenues from fees will be recognized when paid or when due and there is no obligation for the government to make a refund. Donations of capital assets are revenue only if the intention is to sell the asset immediately.
Intention is shown by a sale or contract to sell before financial statements are issued.
Other donated capital assets are recorded only in the General Fixed Asset Account Group. Exchange transaction revenues are recognized when earned. This includes fees for services, investments, and operating leases. Gains or losses are recognized when an investment is sold. If the investment is owned by one fund but the gains, losses or investment income, legally or contractually, belong to another fund, then the gains, losses or income are generally reported in the recipient fund.