As I said, I haven’t been using the Business Features because they’re an added
complication, and because our accounts are kept on a cash basis.
A Bursary is a grant made to assist a talented student who might otherwise be
unable to afford a course. It’s doesn’t usually involve competition (like a
scholarship), and is intended to encourage a talented individual to take up a
course s/he couldn’t otherwise afford.
I knew what a "bursary" was --- but this more a difference in the usage
of the term "scholarship" across the pond. American English not always
the same as yours. Long ago we ceased distinguishing "scholarship" that
way, taking the meaning to be just "grant for the purpose of study".
How to treat this (with reference to accounting, not really a gnucash
question) depends on:
a) Do you want to inflate income/expense of not? Same net done either way.
b) How independent (in a legal sense) is the source of these bursary
funds? In a moral sense? << thus here, a quasi independent fund might be
legally under the umbrella of a 501(c)3 << not its own 501(c)3 >> . Thus
I am on the boards of a pair like that, the quasi independent fund <<
used to be legally under a different 501(3)3 >> and the 501(c)3 it is
now under (moved there when that organization became 501(c)3. The
purpose of the quasi-independent fund being to subsidize the attendance
of children at events put on by the now parent organization at a site
that does not have lower rates for children.
So very much like your "bursary" fund. But because the special purpose
org was once legally independent (and de facto still is) this is handled
by negotiated settlement between the boards, one agreeing to subsidize X
amount of the children's rate and the organization just sends out
registration forms with the resulting lower rate per child. I am giving
this particular example because IN ADDITION parents who still could not
afford that could apply for "scholarship" help << US usage* >>
Michael D Novack
* The split in usage goes back a ways. In the very beginning
"scholarships" meant the same both sides of the pond. But then over here
we began getting things like benefactors setting up funds with special
terms (eg: descendants of so and so: needy students form the town of X,
etc.) and in some cases the legislators had funds in their "gift and
favor". Institutions might offer "scholarships" to applicants with
athletic prowess. Or just need**. So we now no longer associate
"scholarship" as being won by competitive academic exam.
** In some cases this is closer to the UK sense in that there are some
top academic unis that are well endowed and consider "you made the cut
to get in" as winning the exam and will then offer aid toward the
tuition of students who need it.
_______________________________________________
gnucash-user mailing list
gnucash-user@gnucash.org
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
