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Tham khảo tài liệu 'essentials of accounting for governmental and not-for-profit organizations 10th edition_11', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 320 Chapter 10 expenses reported in the bottom right-hand corner 24 774 agrees with the total expenses reported in the Statement of Activities Illustration 10-1 . Alternative Procedure for Recording Fixed Assets As indicated earlier the FASB gives not-for-profit organizations the option of 1 recording all fixed assets as unrestricted and reclassifying resources donated to purchase fixed assets to unrestricted net assets entries 13a and 13b or 2 recording fixed assets as temporarily restricted and reclassifying net assets to unrestricted as the asset is depreciated or over the term of the restriction if shorter. If the latter method were followed entries 13a and 13b would be as follows Alternative entries 13 a. Equipment Cash 13b. Reclassification from Unrestricted Net Assets Use of Unrestricted Assets to Acquire Fixed Assets Reclassification to Temporarily Restricted Net Assets Use of Unrestricted Assets to Acquire Fixed Assets . . . Debits 330 90 Credits 330 90 Similar entries would be made for all acquisitions of fixed assets using unrestricted resources e.g. entry 12 . Entry 18 to record depreciation would be followed by an additional entry to Apag the dpDFted Ehih st thecer Alternative entry 18b. Reclassification from Temporarily Restricted Net Assets Satisfaction of Fixed Asset Restrictions Reclassification to Unrestricted Net Assets Satisfaction of Fixed Asset Restrictions 4 050 4 050 PERFORMANCE EVALUATION The not-for-profit organizations described in this chapter apply accrual accounting concepts and measure revenues and expenses in much the same manner as business enterprises. In the Statement of Activities change in net assets is computationally equivalent to net income reported on the financial statements of business enterprises i.e. revenues-expenses . However change in net assets is not as effective a performance measure for not-for-profits as net income is for businesses. This is not surprising since not-for-profit organizations are established for .
