Write a detailed report covering the following topics:1. ACCOUNTING FOR COLLEGES AND UNIVERSITIES• What Unique Issues do Colleges and Universities Face?• What are different revenues and expenses?• Accounting for revenues and expenses- Give examples• Treatment of grants and donations2. ACCOUNTING FOR HEALTH CARE PROVIDERS/HOSPITALS• What Unique Issues do Health Care Providers Face?• What are the Key Differences Between Private Not-For-Profit andGovernment Health Care Providers?• What Are the Basic Financial Statements?• What are the Key Revenues and Expenses?• How are the key revenues and expenses recognized?

----> Most of the colleges are classified as non-profit organization. Accounting for non-profit…

Write a detailed report covering the following topics: 1. ACCOUNTING FOR COLLEGES AND UNIVERSITIES What Unique Issues do Colleges and Universities Face? • What are different revenues and expenses? Accounting for revenues and expenses- Give examples • Treatment of grants and donations

Write a detailed report covering the following topics: 1. ACCOUNTING FOR COLLEGES AND UNIVERSITIES What Unique Issues do Colleges and Universities Face? • What are different revenues and expenses? Accounting for revenues and expenses- Give examples • Treatment of grants and donations

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 7Q: Use the internet to research one for-profit, one governmental, and one not-for-profit entity. For...

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A: please find the briefly explanation in below pages

Concept explainers

Income Statement

Income Statement also commonly called a profit and loss statement, one of the key financial statements (considered together with balance sheet and cash flow statement) which shows the revenues and expenses, as well as the gains and losses of a company for a given period. In other words, it presents the financial performance/profitability of a business over a specified accounting period.

Question

Write a detailed report covering the following topics:
1. ACCOUNTING FOR COLLEGES AND UNIVERSITIES
• What Unique Issues do Colleges and Universities Face?
• What are different revenues and expenses?
• Accounting for revenues and expenses- Give examples
• Treatment of grants and donations
2. ACCOUNTING FOR HEALTH CARE PROVIDERS/HOSPITALS
• What Unique Issues do Health Care Providers Face?
• What are the Key Differences Between Private Not-For-Profit and
Government Health Care Providers?
• What Are the Basic Financial Statements?
• What are the Key Revenues and Expenses?
• How are the key revenues and expenses recognized?

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