Use the Annual Report of the organization you have selected to: a. Identify the financial statements that the entity presents and what additional disclosure it presents. b. Analyze how contributions are recognized (contributions revenues). Does the organization have net assets with restrictions imposed by donors? What is the nature of the restrictions?

Use the Annual Report of the organization you have selected to: a. Identify the financial statements that the entity presents and what additional disclosure it presents. b. Analyze how contributions are recognized (contributions revenues). Does the organization have net assets with restrictions imposed by donors? What is the nature of the restrictions?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter13: Sustainability Reporting

Section: Chapter Questions

Problem 10MC: Which of the following best defines stakeholders? A. investors and lenders B. environmental groups...

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What are the objectives of financial reporting of not-for-profit organizations?
What are the financial reporting goals of not-for-profit organizations?
What information do financial statement users want to know about a not-for-profit entity?
Please answer with reason why the option is correct and why remaining options are incorrect Which of the following statements is prepared by all not-for-profit organizations? Statement of financial position. a. b. C. d. Statement of functional expenses. Statement of revenues, expenses, and changes in net position. Both A and B.
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Why do we need accounting for non-profit organizations?
Which of the following statements is prepared by all not-for-profit organizations? O Statement of changes in net position. O Both Statement of financial position and Staternent of changes in net position. O Statement of financial position. O Statement of revenues, expenses, and changes in net position.
Which of the following types of information would be included in total net assets in the statement of financial position for a not-for-profit organization?a. total current assets.b. long-term liabilities.c. types of individual funds the entity has.d. unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.
What is the difference between a balance sheet of a non profit organization and a for - profit business ?
Which of the following best defines stakeholders? A. investors and lenders B. environmental groups C. anyone directly or indirectly affected by the organization D. groups or individuals financially impacted by the organization
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