SAE Annual Report 2010 - 47

SAE INTERNATIONAL
Notes to the Financial Statements (Continued) Note 1 - Summary of Significant Accounting Policies (Continued) K. Revenue Recognition (Continued)

Contractual revenue, included in technical standards on the statement of activities, is recognized when earned under the terms of the contracts. Advance receipts from grants and contracts are reflected as deferred revenue until earned. Contributions received are recorded as unrestricted, temporarily restricted, or permanently restricted support, depending on the existence or nature of any donor restrictions. Support that is restricted by the donor is reported as an increase in temporarily or permanently restricted net assets, depending on the nature of the restriction. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. L. In-kind Donations

Donated materials and services meeting the requirements of generally accepted accounting principles are reflected as contributions at their estimated values at date of receipt. M. Fair Value Measurements

SAE applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. SAE defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, SAE considers the principal or most advantageous market in which SAE would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

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SAE Annual Report 2010

Table of Contents for the Digital Edition of SAE Annual Report 2010

SAE Annual Report 2010
Contents
Executive Message
Sectors – Aerospace, Automotive and Commercial Vehicle
Membership
Aerospace Standards
Ground Vehicle Standards
Engineering Events and Meetings
Electronic Publishing
Magazines and Books
Professional Development
Collegiate Design Series
SAE Foundation
Performance Review Institute (PRI)
Globally Relevant
SAE International Financials
Supplemental Information
SAE Annual Report 2010 - Intro1
SAE Annual Report 2010 - Intro2
SAE Annual Report 2010 - SAE Annual Report 2010
SAE Annual Report 2010 - Contents
SAE Annual Report 2010 - Executive Message
SAE Annual Report 2010 - 3
SAE Annual Report 2010 - Sectors – Aerospace, Automotive and Commercial Vehicle
SAE Annual Report 2010 - 5
SAE Annual Report 2010 - 6
SAE Annual Report 2010 - 7
SAE Annual Report 2010 - 8
SAE Annual Report 2010 - 9
SAE Annual Report 2010 - Membership
SAE Annual Report 2010 - 11
SAE Annual Report 2010 - Aerospace Standards
SAE Annual Report 2010 - 13
SAE Annual Report 2010 - Ground Vehicle Standards
SAE Annual Report 2010 - 15
SAE Annual Report 2010 - Engineering Events and Meetings
SAE Annual Report 2010 - Electronic Publishing
SAE Annual Report 2010 - Magazines and Books
SAE Annual Report 2010 - 19
SAE Annual Report 2010 - Professional Development
SAE Annual Report 2010 - Collegiate Design Series
SAE Annual Report 2010 - SAE Foundation
SAE Annual Report 2010 - 23
SAE Annual Report 2010 - Performance Review Institute (PRI)
SAE Annual Report 2010 - Globally Relevant
SAE Annual Report 2010 - SAE International Financials
SAE Annual Report 2010 - 27
SAE Annual Report 2010 - 28
SAE Annual Report 2010 - 29
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SAE Annual Report 2010 - Supplemental Information
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