3 ms·

Not really. Gift cards don’t expire and you’re allowed to just make reasonable assumptions about what portion will never be redeemed.

• mgerdts 2y ago
  Gift card expiration used to be really egregious. In 2010 that changed in the US. They can still expire, but not within 5 years. https://www.ftc.gov/news-events/news/press-releases/2010/11/ftc-has-gift-card-tips-holiday-buying https://www.ftc.gov/news-events/news/press-releases/2010/11/...
  • jncfhnb 2y ago
    Regardless, you can still account for breakage without any formal expiry
    • mgerdts 2y ago
      Sure. That Party City gift card bought last week may not be honored today due to bankruptcy and certainly won’t be honored after the stores close in a couple months.
      • jncfhnb 2y ago
        No, that argument applies to the owner of the gift card accounting for the fact that the gift card may not be used (and isn’t a great method assuming they intend to spend it and expect to get the full value). What I’m talking about is the provider of the gift card writing off some portion of the liability of gift cards they have sold that people will never spend because they forget about them and lose them and so forth.
  • adamsb6 2y ago
    In Washington state they never expire.