Questions from Advanced Accounting

Q: How is it helpful for a private not-for-profit

How is it helpful for a private not-for-profit organization to account for current funds as restricted or unrestricted?

Q: The FASB requires for-profit entities to classify their investments as

The FASB requires for-profit entities to classify their investments as trading, available-for-sale, or held-to-maturity. However, it does not require not-for-profit entities to do the same. What might...

Q: Differentiate between public support and revenues as sources of assets for private

Differentiate between public support and revenues as sources of assets for private not-for-profit organizations. What benefit is there in accounting for these differently?

Q: Explain the accounting for funds received by an organization acting as an

Explain the accounting for funds received by an organization acting as an agent, a trustee, or an intermediary, rather than as a donor or done. What might be the reasoning for the differences?

Q: A voluntary health and welfare organization is required to present an additional

A voluntary health and welfare organization is required to present an additional financial statement that is not required of other private not-for-profit entities. Why is this an important statement?...

Q: (Appendix) Why would a VHWO wish to present its financial

(Appendix) Why would a VHWO wish to present its financial information on a fund basis rather than simply on an organization-wide basis? What benefits are there in fund-basis reporting?

Q: What measurement focuses (identifying which resources are being measured) and

What measurement focuses (identifying which resources are being measured) and bases of accounting (identifying when the effects of transactions or events should be recognized) are used by public and n...

Q: Explain the accounting for contributions (of cash, pledges, or

Explain the accounting for contributions (of cash, pledges, or investments that may be converted into cash) for a private university. How does this accounting for contributions differ from that of a p...

Q: Waypine Enterprises reported a pretax operating loss of $84,000

Waypine Enterprises reported a pretax operating loss of $84,000 in 2014, its first year of operations, and recognized a tax benefit of $6,000, based on the assumption that $40,000 of the loss could be...

Q: Explain how restricted gifts and grants are accounted for by public colleges

Explain how restricted gifts and grants are accounted for by public colleges and universities. Compare this with the accounting for restricted gifts and grants by private colleges and universities.