What 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.
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What 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.
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- How to prepare financial statements for a government agency and non-profit organization?Please describe and illustrate the kinds of restrictions that doners may impose on the use of resources they contribute to nonprofits.Explain with examples how Section 404 can impact local governments and not-for-profit organizations?
- Differentiate between public support and revenues as sources of assets for private not-for-profit organizations. Whatbenefit is there in accounting for these differently?V6. What is the entity in charge of creating and ensuring accounting standards for government organizations? Do you understand that government accounting standards offer some benefit to users of financial statements? Explain Distingue entre fondos gubernamentales y fondos de propietario Name and explain the two types of owner funds.Why is there a need or why is it a requirement for banking institution, building and loan association, trust company, insurance company, and so forth to have certification of the appropriate government agency in order for the Commission to accept the filing of bylaws of such institutions?
- will there be an instance where in the government may consider as primary user? please provide example.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 meetingsWhat type of organization primarily offers tax compliance, auditing, and consulting services? A. corporations B. public accounting firms C. governmental entities D. universities
- Explain Not-for-profit entities.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?what are the requirements for government- wide statements on CAFR?