Questions from Accounting for Government and Non-Profit

Q: “The American Institute of CPAs (AICPA) is the

“The American Institute of CPAs (AICPA) is the primary source of generally accepted accounting principles (GAAP) for all health care organizations.” Do you agree with this statement? Why or why not?...

Q: Describe the dual-track system used in federal agency accounting.

Describe the dual-track system used in federal agency accounting. Compare this to the system by the same name used in the discussion of state and local government reporting under GASB standards.

Q: UPMIFA stands for the Uniform Prudent Management of Institutional Funds Act.

UPMIFA stands for the Uniform Prudent Management of Institutional Funds Act. This Act was approved in July 2006 and replaces the Uniform Management of Institutional Funds Act (UMIFA). Subsequent to ap...

Q: Review each of the following cases that describe a public university and

Review each of the following cases that describe a public university and a foundation related to it (i.e., an institutionally related foundation). Explain whether the GASB criteria are met so that the...

Q: Following are the operating statements for a public and private university.

Following are the operating statements for a public and private university. The operating statements have been adapted from the annual reports of a public and a private university. As would be expecte...

Q: What incorporating documents should an auditor examine in conducting an audit or

What incorporating documents should an auditor examine in conducting an audit or preparing an annual Form 990 tax return of a not-for-profit organization? What information in these documents is most u...

Q: Explain why a state has regulatory authority over a not-for

Explain why a state has regulatory authority over a not-for-profit organization. When does he federal government have regulatory authority over a not for- profit organization?

Q: A local not-for-profit organization that provides shelter for

A local not-for-profit organization that provides shelter for the homeless favors proposed legislation in the state that would facilitate converting an old hotel into a transitional living facility. W...

Q: Using Illustration 15–3 as a guide, indicate under which

Using Illustration 15–3 as a guide, indicate under which Internal Revenue Code section each of the following public charities is most likely to be exempt from federal income tax. a....

Q: What are the distinguishing characteristics between a public charity and a private

What are the distinguishing characteristics between a public charity and a private foundation? Why do these differences result in different federal reporting requirements?