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Being that you are an inquisitive person and wish to add to your knowledge base, you ask your new accountant to teach you about fund accounting that is used in nonprofit financial accounting. Specifically, you asked her the following:
• Explain how fund accounting principles for nonprofit organizations affect routine revenue type journal entries.
• Do you think that nonprofits should continue to abide by the wishes of contributors who donated on the basis of a specific use of their donation, or, during tough economic times, should they ask these contributors to relax any restrictions they placed on the use of these funds?
Analyze accounting and reporting requirements for not-for-profit organizations
Ethical Dilemma What's an expense?
Evaluate the equivalent units of production with respect to direct labor and evaluate the equivalent units of production with respect to direct materials.
Bodily had an unused $120,000 net operating loss carry forward from 2011 when the tax rate was 40%. Evaluate bodily's income tax payable for 2013
The company needs to maintain monthly ending inventories of clay equal to 20% of the subsequent month's production required. On August 31, 18,000 pounds of clay were on hand.
At the starting of 2014, the CFO decided to change to straight-line depreciation method and evaluate the depreciation expense for 2014.
Show the Flexible Budget Performance Report
Debt, common stock and percentage of debt fund - Given the above constraints, what portion of the $800 million capital budget will be funded with debt
Describe the specific objectives of financial reporting, explain the relationship between the objectives of financial reporting and explain the Financial Accounting Standards Board (FASB) conceptual framework.
Calculate the net patient service revenue that would be reported on the statement of revenues, expenses, and changes in net assets.
Knowledge about the behavior pattern of a cost is important to understanding the effect on net income of a change in sales volume because as sales volume changes and When a firm has financial leverage
Evaluate the average markup percentage for setting prices as a percentage of the full cost of the product.
Evaluate the machine capability
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