Posted by & filed under Accounting Principles, Contemporary Business Issues.

Description: Rosafe Signet is sort of a household name in Cuba, but he is barely known in his Canadian home. This prize Holstein bull is the father of much of Cuba’s dairy herd. Now, with President Obama’s warming of relations towards Cuba, and the actions of a determined Vancouver attorney named Carey Linde fronting the efforts, Rosafe Signet may soon receive recognition via a 600 kg statue in Old Havana. Linde has been attempting to use Kickstarter to help fund the project.

Source: Globe and Mail.com

Date:  January 4, 2015

Link: http://www.theglobeandmail.com/news/national/ontario-holstein-bull-to-be-honoured-with-statue-for-role-in-cuban-history/article22288218/

Discussion Points:

1) Have you ever used Kickstarter or a similar approach for raising funds?

2) How should accountants record funds raised through Kickstarter or similar sites?

3) What opportunities might the warming of relations between Cuba and the United States create for businesses?

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