Questions from Accounting for Government and Non-Profit

Q: Why are measures of “service efforts and accomplishments” of more

Why are measures of “service efforts and accomplishments” of more concern for government and not‐for‐profits than for businesses?

Q: In what key ways does the FASB influence generally accepted accounting principles

In what key ways does the FASB influence generally accepted accounting principles for governments?

Q: Select the best answer. 1. Rule 203 of

Select the best answer. 1. Rule 203 of the AICPA’s Code of Professional Conduct pertains to a. CPAs’ independence b. Authorities designated to establish accounting standards c. Standards of competenc...

Q: Go to the following websites and answer the questions.

Go to the following websites and answer the questions. a. Visit the GASB website (www.gasb.org) 1. What is the GASB? 2. What is the mission of GASB? 3. Based on GASB’s White Paper, Why Governmental A...

Q: The financial statements that follow were adapted from those of the University

The financial statements that follow were adapted from those of the University of Arizona. Both the statement of changes in fund balances and the notes to the statements have been omitted. Moreover, t...

Q: Suppose that you live on a street adjoining the college in which

Suppose that you live on a street adjoining the college in which you are taking this course. 1. List all the governments (e.g., state, county, city) that have jurisdiction over the residents or proper...

Q: In preparing its budget proposals, a city’s budget committee initially estimated

In preparing its budget proposals, a city’s budget committee initially estimated that total revenues would be $120 million and total expenditures would be $123 million. In light of the balanced budget...

Q: A town privatized its sanitation department, selling all its plant and

A town privatized its sanitation department, selling all its plant and equipment to a private corporation. The corporation agreed to hire most of the department’s managers and other employees and was...

Q: The Chicago Youth Association (CYA) and the Palmer Athletic Club

The Chicago Youth Association (CYA) and the Palmer Athletic Club (PAC) are each considering purchasing a van. The CYA is a not‐for‐profit organization serving at‐risk inner‐city youth. It operates a c...