How does using the accounting support fee to fund the FASB create more independence than using donations?
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How does using the accounting support fee to fund the FASB create more independence than using donations?
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- A governmental agency can best be described by which of the following statements? A. has a primary purpose of making a profit B. has a primary purpose of using taxpayer funds to provide services C. produces goods for sale to the public D. has regular shareholder meetingsWhy do we need accounting for non-profit organizations?Is there a difference between a balance sheet of a profit organization with a non-profit organization?
- Explain the accounting for funds received by an organization acting as an agent, a trustee, or an intermediary, rather than as a donor or donee. What might be the reasoning for the differences?When should membership dues be considered revenue rather than contributions?Explain why administrative and compliance costs of taxation is important regarding taxation? What are the specific measures that you are proposing to make a tax system simpler?
- why do managers of governmental and not for non profit organizations need to understand financial information as much as profit seeking organizationDescribe how monies received by an organization functioning as an agent, trustee, or intermediary, rather than as a donor or donee, are accounted for. What may be the rationale for the discrepancies?Differentiate between public support and revenues as sources of assets for private not-for-profit organizations. Whatbenefit is there in accounting for these differently?
- How should a nongovernmental, not-for-profit organization report contributions without donor‘s restriction in its statement of cash flows A.) Operating activity inflow. B.) Investing activity inflow. C.) Financing activity inflow. D.) As a noncash transaction.What are the financial reporting goals of not-for-profit organizations?What is the difference between a balance sheet of a non profit organization and a for - profit business ?
