Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Question
Chapter 1, Problem 4DQ
Summary Introduction
To determine: Why Person X is having trouble to assess success from a non-profit organization.
Introduction:
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Students have asked these similar questions
If we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization?
What is the difference between For-profit organizations and Not-for-profit organizations?
Which of the following characteristics identify a nonprofit as it relates to tax-status? (Choose all that apply.)
Select one or more:
a.
They don't generate profit that gets reinvested into their mission.
b.
They are governed by a compensated board of directors
c.
They are primarily funded by membership fees
d.
They have a mission that is based around serving the public need
Chapter 1 Solutions
Accounting Information Systems
Ch. 1 - Describe this textbooks three themes.Ch. 1 - Prob. 2RQCh. 1 - A system must have organization,...Ch. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Why is the information system important to the...Ch. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Refer to Figure 1.9. Characterize the horizontal...Ch. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Why must you have knowledge of a systems...Ch. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Between relevance and reliability, which...Ch. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - Prob. 1SPCh. 1 - Prob. 2SPCh. 1 - About three decades ago, in his first address as...Ch. 1 - Prob. 2PCh. 1 - Conduct research on the implementation of Section...Ch. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8PCh. 1 - Identify the skills required to be a forensic...
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Similar questions
- Discuss how characteristics of not-for-profit organizations differ from for-profit organizations.arrow_forwardWhat is the major difference between a for-profit and a not-for-profit organization?arrow_forwardDiscuss the basic assumptions of CVP analysis and how can we use CVP analysis in making decisions in a not-for-profit organization, as well as a for-profit organization?arrow_forward
- Please describe and illustrate the kinds of restrictions that doners may impose on the use of resources they contribute to nonprofits.arrow_forwardYou are required to discuss and explain your opinion whether the following statement iscorrect:“The financial performance of Governments and Not-for profit organizations is as importantas the financial importance of Corporations as the amount invested in any project need togrow by generating return, otherwise they are spent with no real reason and recklessly”.You are highly advised to disclose in your essay what the main differences are betweencorporations and Governments and Not-for profit organizations, especially in terms of theirnature and how the performance is assessed in each case, by mentioning their general goalsand scope. By doing so, it will be easier to explain your answer whether profitability andfinancial performance of Governments and Not-for profit organizations is as important it is forthe case of companies.arrow_forwardwhy do managers of governmental and not for non profit organizations need to understand financial information as much as profit seeking organizationarrow_forward
- A governmental agency can best be described by which of the following statements? has a primary purpose of making a profit has a primary purpose of using taxpayer funds to provide services produces goods for sale to the public has regular shareholder meetingsarrow_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_forwardWhich of the following is not an underlying objective of the income tax laws? A. Income tax laws enable the government to regulate the health of the economy. B. Income tax laws are designed to converge with U.S. GAAP rules. C. Income tax laws enable the government to assist certain members of society who are viewed as deserving help. D. Income tax laws are designed to raise money for the operation of the federal government.arrow_forward
- As a taxpayer referring to the information provided by your classmates related to the informational needs of the user group you have chosen, state whether the objectives of financial reporting they have listed meet your needs, whether any additional information is needed by your user group, and why this information would be beneficial to the financial decisions you would need to make. Are there any additional objectives that should be listed for your user group, if so what are they? How do your needs differ from the other user groups? how would I respond to the following: In reviewing the FASB concepts, I will address them from the school department point of view, which operates under the city government. Concept no.1 requires that financial statements help users to assess whether to donate to an organization, and to understand how (if they choose to donate) their resources will be used. For a school department it is imperative that the public know what their tax dollars are used for,…arrow_forwardIdentify some difference between private organization and nonprofit organization?arrow_forwardDefine 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_forward
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