Questions from Advanced Accounting

Q: When is the AICPA college guide model used?

When is the AICPA college guide model used?

Q: Other than FASB standards and the AICPA guide, where can you

Other than FASB standards and the AICPA guide, where can you find guidance on accounting and reporting issues for colleges and universities?

Q: Why do governmental entities use fund accounting? How many funds might

Why do governmental entities use fund accounting? How many funds might be used by a single governmental unit? How many fund types?

Q: The reorganization value of a firm emerging from Chapter 11 bankruptcy is

The reorganization value of a firm emerging from Chapter 11 bankruptcy is used to determine the accounting of the reorganized company. Explain reorganization value as used in FASB ASC 852.

Q: Discuss the two options that not-for-profit organizations have

Discuss the two options that not-for-profit organizations have for recording donated fixed assets.

Q: What statements are included in a set of financial statements for nongovernmental

What statements are included in a set of financial statements for nongovernmental not-for-profit entities?

Q: For nongovernmental NFP, explain the difference between donor-imposed conditions

For nongovernmental NFP, explain the difference between donor-imposed conditions and donor-imposed restrictions.

Q: Describe a transaction that would affect the general fund and the debt

Describe a transaction that would affect the general fund and the debt service fund at the same time.

Q: For nongovernmental NFP, how are unconditional promises to give with collections

For nongovernmental NFP, how are unconditional promises to give with collections due in the next period accounted for?

Q: For nongovernmental NFP, are gifts in kind always reported as unrestricted

For nongovernmental NFP, are gifts in kind always reported as unrestricted support that increases unrestricted net assets?