For-profit and not-for-profit organization

Assignment Help Accounting Basics
Reference no: EM13124374

What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization? How do these differences and similarities affect the comparability of financial reports? Should these reports be comparable? Explain your response.

Reference no: EM13124374

Questions Cloud

For profit and government organization : What are the differences in financial reporting in a for-profit and government organization? What are the similarities in financial reporting in a for-profit and government organization?
Which is accurate with respect to the federal estate tax : Under Carl's will, Carl created a testamentary trust to be funded with $700,000 worth of assets. All of the income of the trust is payable to Carl's child, Jane, for her life, and thereafter, the remaining assets of the trust will pass to The Publ..
An academic or professional environment : Why do you think ethics are of concern in an academic or professional environment? How might you determine your personal ethics?
Converting linear equations to slope-intercept form : Write the two equations in slope-intercept form, and then determine how many solutions the system has.
For-profit and not-for-profit organization : What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization?
Past simple question : The student used the past form of the main verb in the past simple question. It should be 'Did you enjoy your holiday?'Slip of the tongue Grammar
Illustrate how much should be accounted for through debt : Department public golf course to be paid from pledged fees collected from golf course users. Illustrate how much should be accounted for through debt service funds for payments of principal over the life of the bonds
Residue classes and multiplication tables : Isomorphisms, Residue Classes and Multiplication Tables, Show that U(10) is isomorphic to Z_4 and write out the isomorphism explicitly.
Question regarding system of inequalities : Give a real-life example of a situation in which you would use a system of inequalities, and for which the solution must be in the first quadrant.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Tax basis in partnership interest

Steve and Jim formed a partnership on January 1 with cash contributions of $600,000 and $400,000, respectively. The partners agree to share profits and losses equally. The partnership immediately borrowed $200,000. What is Jim's tax basis in his p..

  Acceptable audit risk

There are several factors that affect an audit firm's risk and therefore acceptable audit risk. What are these factors? How do they affect our audit planning?

  Indicate the generally accepted accounting principles

Provide the fund level entries in general journal form needed to conform to basically accepted accounting principles. If no entry is needed, so indicate.

  Forensic accounting-cash disbursements

Estimate the effects of falsifying records, diverting cash to ghost employees, and duplicating expenses on a small, midsize, and large business.

  Prepare the journal entry by indian river electronics

the balance sheet of the Indian River Electronics Corporation as of December 31, 2012, included 12.25% bonds having a face amount of $90 million.

  Activities sections of the statement of cash flow

A loss of $35,000 from the sale of equipment would be included in which of the activities sections of the statement of cash flow.

  Widgets for production

Kasten, Inc. budgeted 10,000 widgets for production during 2010. Kasten has capacity to produce 12,000 units. Fixed factory overhead is allocated to production. The following estimated costs were provided:

  Evaluate the strengths and weaknesses of smith''s reasons

Jessica Boland works for Sea Biscuit Co. She and Farah Smith, her manager, are preparing adjusting entries for annual financial statements. Boland computes depreciation and records it as: How should depreciation be recorded? Do you support Boland o..

  Determine amount of cash received-prepare journal entries

Determine the amount of cash received and prepare the journal entries for (a) the Jan. 1 issuance and (b) the Dec. 31 recognition of interest.

  Pemdas order of operations in mathematics

Discuss the PEMDAS order of operations in mathematics. What is PEMDAS and why is important to follow it to the letter when conducting mathematical operations?

  What is the business purpose doctrine

The U.S. Tax Code has evolved over time to include many credits and deductions. Certainly, the legislative process encourages offering tax benefits for certain behavior, such as buying a new car or home, investing in manufacturing equipment, and s..

  Return of capital and capital gain

The partners share equally in partnership capital, income, gain, loss, deduction, and credit and capital is not a material income-producing factor.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd