ADVANCED ACCOUNTING(LL) W/CONNECT
13th Edition
ISBN: 9781260282382
Author: Hoyle
Publisher: MCG
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Chapter 18, Problem 4DYS
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Prepare a list of three changes in the latest financial statement and 1987 financial statement.
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What is the significance of the financial statements which have been included in the annual reports of the two organizations?
What is the most common form for the financial statements prepared by public colleges and universities?
Write a 700 words that analyzes the differences between generally accepted accounting principles for public and private colleges and universities.
Explain why it is important to identify whether the institution is Public or Private.
Clarify which of the two—public or private—follow the same reporting guidelines as nongovernmental not-for-profit organizations.
Analyze, in general terms, the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.
Identify the major format differences in financial reporting for public and private colleges and universities.
Formulate an opinion about which statement provides more transparent information regarding revenues and on the amounts of restricted resources.
Chapter 18 Solutions
ADVANCED ACCOUNTING(LL) W/CONNECT
Ch. 18 - Prob. 1QCh. 18 - Prob. 2QCh. 18 - Prob. 3QCh. 18 - What are temporarily restricted net assets?Ch. 18 - What are permanently restricted net assets?Ch. 18 - Prob. 6QCh. 18 - Prob. 7QCh. 18 - Prob. 8QCh. 18 - Prob. 9QCh. 18 - Prob. 10Q
Ch. 18 - Prob. 11QCh. 18 - Prob. 12QCh. 18 - Prob. 13QCh. 18 - Prob. 14QCh. 18 - Prob. 15QCh. 18 - When should membership dues be considered revenue...Ch. 18 - Prob. 17QCh. 18 - Prob. 18QCh. 18 - Prob. 19QCh. 18 - Prob. 20QCh. 18 - Prob. 21QCh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 4PCh. 18 - A donor gives Charity 1 50,000 in cash that it...Ch. 18 - Prob. 6PCh. 18 - Prob. 7PCh. 18 - Prob. 8PCh. 18 - Prob. 9PCh. 18 - Prob. 10PCh. 18 - Prob. 11PCh. 18 - Prob. 12PCh. 18 - Prob. 13PCh. 18 - Prob. 14PCh. 18 - Prob. 15PCh. 18 - Prob. 16PCh. 18 - Prob. 17PCh. 18 - Prob. 18PCh. 18 - Prob. 19PCh. 18 - Prob. 20PCh. 18 - Prob. 21PCh. 18 - Prob. 22PCh. 18 - Prob. 23PCh. 18 - Prob. 24PCh. 18 - Prob. 25PCh. 18 - Prob. 26PCh. 18 - Prob. 27PCh. 18 - Prob. 28PCh. 18 - Prob. 29PCh. 18 - Prob. 30PCh. 18 - Prob. 31PCh. 18 - Prob. 32PCh. 18 - Prob. 33PCh. 18 - Prob. 34PCh. 18 - Prob. 35PCh. 18 - Prob. 36PCh. 18 - Prob. 37PCh. 18 - Prob. 38PCh. 18 - Prob. 39PCh. 18 - A private not-for-profit entity is working to...Ch. 18 - Prob. 41PCh. 18 - The University of Danville is a private...Ch. 18 - Prob. 43PCh. 18 - Prob. 44PCh. 18 - Prob. 45PCh. 18 - Prob. 46PCh. 18 - Prob. 47PCh. 18 - Prob. 48PCh. 18 - Prob. 49PCh. 18 - At the beginning of Year 1, the entity above...Ch. 18 - Prob. 51PCh. 18 - Prob. 52PCh. 18 - Prob. 53PCh. 18 - Prob. 54PCh. 18 - Prob. 1DYSCh. 18 - Prob. 2DYSCh. 18 - Prob. 3DYSCh. 18 - Prob. 4DYSCh. 18 - Prob. 5DYSCh. 18 - Prob. 6DYS
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- Please choose a public company financial statement, a 10k or an annual report. Review the footnote disclosures related to intercompany activity. How important is this activity to the consolidated group? Where do you find this information? Be sure to post a link or attach the document to your posting.arrow_forwardSubmit in excel form the financial statements report for Hyrule as presented in the worksheetarrow_forwardWhich of the following is required as part of the complete set of financial statements for a private college or university? a. Statement of changes in financial position b. Statement of activities c. Statement of revenues, expenses, and changes in net assets d. None of the abovearrow_forward
- Discuss the ‘primary users’ of general-purpose financial reports? Harvard referencesarrow_forwardWrite a 700- to 1,050-word paper that analyzes the differences between generally accepted accounting principles for public and private colleges and universities. Explain why it is important to identify whether the institution is Public or Private. Clarify which of the two—public or private—follow the same reporting guidelines as nongovernmental not-for-profit organizations. Analyze, in general terms, the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university. Identify the major format differences in financial reporting for public and private colleges and universities. Formulate an opinion about which statement provides more transparent information regarding revenues and on the amounts of restricted resources.arrow_forwardIn light of the full disclosure principle, investors and creditors need to know the balances for assets, liabilities, and equity as well as the accounting policies adopted by management to measure the items reported in the balance sheet. Instructions If your school has a subscription to the FASB Codification, go to http://aaahq.org/asclogin.cfm to log in and prepare responses to the following. Provide Codification references for your responses. (a) Identify the literature that addresses the disclosure of accounting policies. (b) How are accounting policies defined in the literature? (c) What are the three scenarios that would result in detailed disclosure of the accounting methods used? (d) What are some examples of common disclosures that are required under this statement?arrow_forward
- Using the knowledge you have acquired in this course and as per guidance from IAS I and IPSAS 1, what would you consider a complete final Accounts ready for publication? State what you would expect to find in the Notes to general purpose financial statements giving its rationale ?arrow_forwardRefer back to Textbook Problem 17.5. Recast the financial statements for Green Valley into common size financial statements. Describe at least two advantages of a common size presentation of financial statements.arrow_forwardSignificant accounting publications are listed below. Match the publications with their sources or sponsors. Publications Sources/Sponsors 1. Accounting Research Bulletins (1953-1959) Financial Accounting Standards Board, Accounting Principles Board, Committee on Accounting Procedure, Accounting Standards Executive Committee, The AICPA 2. Accounting Standards Updates The AICPA, Committee on Accounting Procedure, Accounting Principles Board, Accounting Standards Executive Committee, Financial Accounting Standards Board 3. Emerging Issues Task Force Updates The AICPA, Accounting Principles Board, Financial Accounting Standards Board, Accounting Standards Executive Committee, Committee on Accounting Procedure 4. Statements of Financial Accounting Concepts The AICPA, Financial Accounting Standards Board, Committee on Accounting Procedure, Accounting Principles Board, Accounting Standards Executive Committee 5. Opinions (1962-1973)…arrow_forward
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