Questions from Accounting for Government and Non-Profit

Q: Kevin Watkins is a manager of a CPA firm. At the

Kevin Watkins is a manager of a CPA firm. At the recommendation of the partner‐in‐charge he applied, and was accepted, for membership on the Accounting Standards Committee of the Government Finance Of...

Q: Select one of the more recently established (and larger) capital

Select one of the more recently established (and larger) capital projects funds (a major fund, if there is one). a. From where did the fund receive most of its resources? b. Did the city acquire or co...

Q: What is the Yellow Book, and why has it influenced audits

What is the Yellow Book, and why has it influenced audits both of state and local governments and of not‐for‐profit organizations?

Q: What are the two main components of a single audit?

What are the two main components of a single audit?

Q: A public university receives approximately 20 percent of its revenue from state

A public university receives approximately 20 percent of its revenue from state appropriations. In which category of revenues (operating or nonoperating) should it report the state appropriations and...

Q: Mosby Memorial Hospital, a private, not-for-profit

Mosby Memorial Hospital, a private, not-for-profit hospital, engaged in the following transactions. 1. At the beginning of the year, the hospital received a bequest in the form of equity securities. M...

Q: The following represent a hospital’s inflows and outflows of cash:

The following represent a hospital’s inflows and outflows of cash: • Patient service fees received • Government grants for operating purposes • Government grants for specific research programs • Contr...

Q: The December 31, 2017, Statement of Net Assets of Mosholu

The December 31, 2017, Statement of Net Assets of Mosholu Medical Center, a major urban hospital and research center The following transactions and events occurred in 2018: 1. The hospital received un...

Q: J.M.H. (a not-for-

J.M.H. (a not-for-profit) Rehabilitation Center engaged in the following transactions during the year ending December 31, 2018. 1. Michael Vincent donated $625,000 to the hospital to help pay for the...

Q: The data on pages 657–658 pertaining to two not-

The data on pages 657–658 pertaining to two not-for-profit hospices were taken from GuideStar, an online database (www.guidestar.org) that provides information about not-for-profit o...