Questions from Accounting for Government and Non-Profit

Q: Describe the general ways that the revised Form 990, applicable for

Describe the general ways that the revised Form 990, applicable for tax year 2008 and beyond, is different from previous versions.

Q: What are the required financial statements for (a) a

What are the required financial statements for (a) a not-for-profit health care entity and (b) a governmental health care entity reporting only business-type activities?

Q: How can a not-for-profit museum ensure that its

How can a not-for-profit museum ensure that its gift shop activities will not result in an unrelated business income tax liability?

Q: A new not-for-profit board member suggests that the

A new not-for-profit board member suggests that the NPO create a separate audit committee to work with the external auditors. The other board members feel that it is already difficult to find communit...

Q: Why are the intermediate sanction regulations an important tool for the IRS

Why are the intermediate sanction regulations an important tool for the IRS to use in curbing abuses such as excessive management compensation?

Q: The financial manager of a not-for-profit child care

The financial manager of a not-for-profit child care center wants to improve the monthly report to the board and has decided to include performance measures. What issues should the manager consider in...

Q: Compass State University Foundation (CSUF) was incorporated as a not

Compass State University Foundation (CSUF) was incorporated as a not-for-profit organization to support a public university in its fund-raising efforts and the management of its endowment. The foundat...

Q: For several years, Baytown Rehabilitative Camp for Disabled Children (hereafter

For several years, Baytown Rehabilitative Camp for Disabled Children (hereafter referred to as the camp) has applied for an operating grant from the Baytown Area United Way. As the finance adviser for...

Q: The Shelter Association of Jefferson County receives the majority of its funding

The Shelter Association of Jefferson County receives the majority of its funding from the local chapter of the United Way. That federated fund-raising organization has a policy that if a member agency...

Q: Rosemont Hospital, a not-for-profit hospital, recorded

Rosemont Hospital, a not-for-profit hospital, recorded the following transactions. For each transaction, indicate the appropriate revenue or gain classification by selecting the letter or letters of t...