Questions from Accounting for Government and Non-Profit

Q: At the end of the year O’Toole General Hospital, which carries

At the end of the year O’Toole General Hospital, which carries no medical malpractice insurance had the following list of malpractice claims: 1. Mr. Seymour Green, a heart patient, filed a claim for $...

Q: Please go to www.Guidestar.org, and download the

Please go to www.Guidestar.org, and download the Form 990 of three health care organizations for the most recent year available. Note that you will need to create a free account to access the forms: 1...

Q: Why are revenues presented on the financial statements net of scholarships and

Why are revenues presented on the financial statements net of scholarships and discounts?

Q: A government has outstanding $100 million of 20‐year,

A government has outstanding $100 million of 20‐year, 10 percent bonds. They were issued at par and have 16 years (32 semiannual periods) until they mature. They pay interest semiannually. 1. Suppose...

Q: What are auxiliary enterprises? How are they accounted for?

What are auxiliary enterprises? How are they accounted for?

Q: What are the three types of endowments? How are they presented

What are the three types of endowments? How are they presented on the financial statements of a public and a private college and university? Why are board-designated (or quasi) endowments always class...

Q: How are investments, investment income, and gains and losses on

How are investments, investment income, and gains and losses on these investments accounted for? Is there a difference in treatment for public as opposed to private colleges and universities?

Q: What types of matters do “specific” requirements address?

What types of matters do “specific” requirements address?

Q: A not-for-profit technical college trains computer specialists,

A not-for-profit technical college trains computer specialists, most of whom have, in the past, received offers for high-paying jobs in Silicon Valley. What special concerns might you have as to the a...

Q: Near the end of its fiscal year, a not-for

Near the end of its fiscal year, a not-for-profit university was awarded a $2 million National Science Foundation grant to conduct biological research. Yet, consistent with GAAP, the college made no a...