1-4. What are the Required financial statements for
nongovernmental not-for-profit organizations?
1-7. What is the primary financial reporting objective for
not-for-profit organizations? How does this differ from the primary financial
Reporting objective for a government?
2-7. What is meant by the terms deferred outflows of
resources and deferred inflows of resources? When are these accounts used?
Where are they reported on the financial statements?
2-9. Identify the governmental fund balance classifications
and give an example of what might be included in each classification
identified.
2-18. Match the exercise attached.
Category: Government and Not-For-Profit
Topic: The Audit Committee
Several arguments have been made by companies that audit committees have not added any value. Do you find this to be true or untrue? What do you feel are the benefits of having an audit committee, and should their composition be changed in any way?
APA format
no cover page
Visit https://charterschoolcenter.ed.gov/what-charter-school and review the information on establishing a charter school as stated in the following case:
You are an accountant in a state that allows charter schools, or public school academies, to educate kindergarten through 12th-grade students and receive public funds to do so. A group of parents and teachers are forming such a school and has asked for your help in establishing an accounting system. Use the Internet to identify resources that may help you in this task. For examples, use your favorite search engine to look for information on “charter schools” and “accounting systems” and answer these questions:
Would you expect an accounting system for this type of school to be any different from that used by traditional public schools?
Should you incorporate budgetary accounting?
600 words
APA format
no cover
web: https://charterschoolcenter.ed.gov/what-charter-school
Topic: Governmental Pensions
The Calpers website provides information about governmental pensions in California. Using the website to support your response, answer Case 8-1 from your textbook.
Source: California Public Employees’ Retirement System. Retrieved from: www.calpers.org
Web: https://www.calpers.ca.gov/
500-600 words
APA format
no cover page
Examine the Federal Accounting Standards Advisory Board’s website, then prepare a brief report about its mission and structure and compile a list of organizations represented on its Accounting and Auditing Policy Committee.
Can you obtain a copy of the full text of FASAB statements from this website? If not, how would you obtain a copy of a statement pertinent to federal agencies? What is the cost to purchase a statement?
Source: Federal Accounting Standards Advisory Board. Retrieved from: http://www.fasab.gov/
Federal Accounting Standards Advisory Board’s
APA format
500-600 words
Topic: The General Fund
Find the Annual Report for your hometown or city (Maryland) . Discuss the presentation of the General Fund you find. Do you agree with the way in which those funds are being employed?
APA format
600 words
no cover page