Governmental and Nonprofit Accounting (11th Edition)
11th Edition
ISBN: 9780133799569
Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Publisher: PEARSON
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Question
Chapter 1, Problem 10Q
To determine
Explain how it is identified that whether a specific not-for-profit organization should follow GASB guidance or FASB guidance.
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State the meaning of ‘Not- for- Profit’ Organisations.
Discuss how characteristics of not-for-profit organizations differ from for-profit organizations.
1) Write any two differences between non-profit organization and governmental organization?
Chapter 1 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 1 - Discuss (a) the similarities in accounting for...Ch. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Contrast the terms expense and expenditure.Ch. 1 - It was noted in this chapter that most of the...Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10Q
Ch. 1 - Prob. 1.1ECh. 1 - Prob. 1.2ECh. 1 - Prob. 1.3ECh. 1 - In which of the following situations would the...Ch. 1 - Legally adopted budgets of governmental funds are...Ch. 1 - Which of the following statements is false? A fund...Ch. 1 - Prob. 1.7ECh. 1 - Prob. 1.8ECh. 1 - Prob. 1.9ECh. 1 - Prob. 1.10ECh. 1 - (Expenditures vs. Expenses) Family Services, a...Ch. 1 - (Statement of Revenues and ExpendituresWorksheet)...Ch. 1 - Prob. 2P
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- What are some of the pros and cons of the Ceres (non-profit organization) CSR reporting framework?arrow_forward1) What are the functions and Objectives of not-for profit organizations?arrow_forwardIf we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization?arrow_forward
- Define Not-for-Profit organizations. Explain what distinguishes governmental not-for-profit organizations from nongovernmental, not-for-profit organizations. Why is such a distinction necessary? Mention the objectives of financial reporting of not-for-profit organizations?arrow_forward2) Write about formation and structure of not for profit organizations.sarrow_forwardWhy do we need accounting for non-profit organizations?arrow_forward
- What are the financial reporting goals of not-for-profit organizations?arrow_forwardWhat are the objectives of financial reporting of not-for-profit organizations?arrow_forwardIf we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization? 1-2 paragrahsarrow_forward
- What are the needed qualities for individuals in charge of governance in a charity organization? Use relevant examples in explaining your answer.arrow_forwardWhat note disclosures are specific to nonprofits or government entities, and why are they needed? In your opinion, what are some of the note disclosures that are challenging to write? Explain.arrow_forwardPlease describe and illustrate the kinds of restrictions that doners may impose on the use of resources they contribute to nonprofits.arrow_forward
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