TIL that museums do not list the value of their collections on their financial statements.
https://gspp.berkeley.edu/research-and-impact/working-papers/capitalizing-art-museum-collections-awkward-for-museums-but-good-for-art-an
#til #todayilearned
https://www.reddit.com/r/todayilearned/comments/1gh55v2/til_that_museums_do_not_list_the_value_of_their/
https://gspp.berkeley.edu/research-and-impact/working-papers/capitalizing-art-museum-collections-awkward-for-museums-but-good-for-art-an
#til #todayilearned
https://www.reddit.com/r/todayilearned/comments/1gh55v2/til_that_museums_do_not_list_the_value_of_their/
Capitalizing Art Museum Collections: Awkward for Museums But Good for Art and for Society
Though standard accounting practice requires that all assets of a firm be manifest in accounts, an exception to this principle allows museu…gspp.berkeley.edu
