TAILIEUCHUNG - Lecture Advanced accounting (12/e): Chapter 18 - Joe B. Hoyle, Thomas F. Schaefer, Timothy S. Doupnik

Chapter 18 - Accounting and reporting for private not-for-profit entities. In this chapter, you will learn: Understand the basic composition of the financial statements produced for a private not-for-profit organization; determine the proper classification for assets that are unrestricted, temporarily restricted, or permanently restricted and explain the method of reporting these categories; explain the purpose and the construction of a statement of functional expenses;. | Chapter Eighteen Accounting and Reporting for Private Not-for-Profit Organizations Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Not-for-Profit Organizations General Characteristics They receive contributions from donors who do not expect a return of equal financial value Their operating purpose is not providing goods and services for profit They do not have ownership interests as do for- profits They may be governmental or private Charitable Educational Civic organizations Political parties Trade organizations 18- Not-for-Profit Organizations General Characteristics They receive contributions from donors who do not expect a return of equal financial value Their operating purpose is not providing goods and services for profit They do not have ownership interests as do for- profits They may be governmental or private Charitable Educational Civic organizations Political parties Trade organizations FASB has jurisdiction over private Not-For-Profits, and two basic ideas form the FASB’s framework for not-for-profit standards: The financial statements should focus on the entity as a whole. Reporting requirements for not-for-profits should be similar to business entities, unless there are critical differences in the needs of users. Financial Reporting LO 1 18- FASB has jurisdiction over private Not-For-Profits, and two basic ideas form the FASB’s framework for not-for-profit standards: The financial statements should focus on the entity as a whole. Reporting requirements for not-for-profits should be similar to business entities, unless there are critical differences in the needs of users. A Little History . Prior to 1993, there was a confusing variety of private not-for-profit accounting practices. In that year, FASB issued guidance to standardize the reporting, emphasize reporting the operations and financial position of the entire entity, and allow the use of many of the same accrual-based techniques utilized by .

• Kế toán - Kiểm toán
• Advanced accounting
• Lecture Advanced accounting
• Advanced financial accounting
• Financial statements
• Accounting valuation
• Not for profit organizations
• Equity method of accounting
• International accounting diversity
• Accounting for legal reorganizations
• Accounting for state
• Accounting for leases
• Accounting for estates
• Investment accounting
• Consolidation of financial information
• Consolidated financial statements
• Intra entity asset transactions
• Variable interest entities
• Income taxes
• Interim reporting
• Foreign currency transactions
• Foreign currency financial statements
• Exchange commission
• Partnership advantages
• Statement of liquidation