10 Contributions in-kind and in-service are recorded by WHO at an amount equal to their fair market value as determined at the time of acquisition, based on an agreement between WHO and the contributor and upon confirmation from the receiving budget centre of the receipt of the goods or services. All in-kind contributions are recognized as revenue and as an expense at the date of acquisition.
20 If a goods in-kind contribution meets the definition and threshold for capitalization as an item of PP&E (refer to IPSAS 17 section), it is recognized as an asset and depreciated over its useful life.
30 If a goods in-kind contribution meets the definition of an item of inventory, the contribution is recognized as revenue and expensed upon receipt. At year-end, an adjustment is made to recognize the item as inventory if the item has not been distributed.
Pledges:
40 Pledges do not meet the definition of an asset because WHO is unable to control the access to the future economic benefits or service potential embodied in the pledged item. As such, pledges are not recorded as revenue.
