TAILIEUCHUNG - Lecture Advanced accounting (6th Edition): Chapter 19 - Jeter, Chaney

Chapter 19 - Accounting for nongovernment nonbusiness organizations: Colleges and universities, hospitals and other health care organizations. This chapter is a very full one – we discuss all the nongovernment, nonbusiness organizations (NNOs) – and that’s a lot of different types! Again, the terminology is the most difficult part of the chapter. | Accounting For Nongovernment Nonbusiness Organizations: Colleges And Universities, Hospitals And Other Health Care Organizations 1 Learning Objectives Describe the source of accounting standards for nongovernment nonbusiness organizations (NNOs). Identify the three basic statements for NNOs. Describe the basic funds used by nongovernment nonbusiness organizations. Distinguish between a current restricted fund and an unrestricted fund. Explain the term “assets whose use is limited.” Distinguish between a mandatory and a nonmandatory transfer. Explain how contributions are recorded by NNOs. 2 Learning Objectives Understand how donated services are recorded. Describe the funds used to account for property, plant and equipment. Explain the basic accounting used by endowment funds. Indicate how equity investments are reported in the financial statements. Explain the change in accounting for loan funds brought about by new standards. Understand the use of an annuity or life income fund. Discuss the special reporting issues of hospitals. 3 Nongovernment Nonbusiness Organizations (NNOs) Four Major Classifications of NNOs: Nonprofit institutions of higher education. Hospitals and other health care providers. Voluntary health and welfare organizations (VHWOs). Other nongovernment nonbusiness organizations (ONNOs). 4 Hierarchy of Reporting Standards (NNOs) The hierarchy used to establish generally accepted reporting standards for NNOs other than government-owned special entities is the same as that for profit oriented business organizations and included in the FASB Codification. FASB standards for nonprofits are found in FASB ASC Topic 958, Not-for-Profit Entities. 5 LO 1 The source of accounting standards. Financial Reporting for Not-for-Profit Three basic financial statements required: Statement of financial position (balance sheet) Net Asset categories: Unrestricted net assets Temporarily restricted net assets – resources that must be used for a specific purpose or in a .

• Kế toán - Kiểm toán
• Advanced accounting
• Lecture Advanced accounting
• Kế toán nâng cao
• Fund accounting
• Accounting for current funds
• Accounting for endowment funds
• Advanced financial accounting
• Financial statements
• Equity method of accounting
• Accounting valuation
• 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