Private colleges and universities report net assets with donor restrictions. What, if any, comparable reporting is...
Private colleges and universities report net assets with donor restrictions. What, if any, comparable reporting is provided by public universities?
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Private colleges and universities report net assets with donor
restrictions. What, if any, comparable reporting is...
Options are: Non-exchange transactions Net assets with donor restrictions Collections Variance Power Board designated net assets...
Options are:
Non-exchange transactions
Net assets with donor restrictions
Collections
Variance Power
Board designated net assets
Endowment
Promise to give
For each of the following definitions, indicate the key term from the list that best matches by placing the appropriate terms. 1. Unrestricted net assets that the governing body decides to set aside for specific purposes The unilateral power of an organization to redirect donated assets of a different beneficiary than |initially indicated by the donor 3. Net assets for...
1. What are different types of debt available to colleges and universities? 2 Are there specific...
1. What are different types of debt available to colleges and universities? 2 Are there specific types which are more relevant to private schools or public institutions?
Many colleges and universities are supported by the government, while others are supported by private organizations....
Many colleges and universities are supported by the government, while others are supported by private organizations. What bearing does the source of support have on the determination of authoritative accounting guidance? What financial statements would be required by the respective standard-setting body of each type of institution? How do these differences affect the comparability of information provided by these institutions?
Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses
Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is put into a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 74.8, 53.3, 242.2, 499.2, 124.7, 151.2, 92.7, and 211.4. What value will be used as the point estimate for the mean endowment...
Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses....
Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 81.8, 55, 245.7, 499.9, 116.1, 156.3, 107.3, and 211.9. What value will be used as the point estimate for the mean endowment...
Identifying the Appropriate GAAP. Section A lists a number of reporting requirements for colleges and universities....
Identifying the Appropriate GAAP. Section A lists a number of reporting requirements for colleges and universities. Section B lists the standard-setting body(ies) imposing the reporting requirements. Section A _____ 1. Patents are classified as capital assets. _____ 2. Sidewalks are classified as land improvements. _____ 3. Revenues and expenses must be categorized as operating and nonoperating. _____ 4. Tuition and fees must be shown net of any estimated uncollectible amounts. _____ 5. Expenses must be reported by program and support...
Reporting Various Contributions Hopeville Retreat is a private NFP organization that counsels former drug addicts in...
Reporting Various Contributions Hopeville Retreat is a private NFP organization that counsels former drug addicts in readjusting to productive community life. Contributions provide the major support for Hopeville Retreat. During 2020, the following contributions were received: 1. $4,000,000 in cash was received from the semiannual fund-raising campaign. 2. $5,000,000 in cash was received in a capital campaign for the purchase of new facilities. 3. A local store donated clothing valued at $7,000; cost to the store was $5,000. 4.A flat-screen...
Question 2 4 pts Private colleges and universities rely on money contributed by individuals and corporations...
Question 2 4 pts Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 81.8, 55, 245.7, 499.9, 116.1. 156.3, 107.3, and 211.9. What value will be used as the point estimate...
Select from the option list provided the most likely classification(s) of net assets, if any, that...
Select from the option list provided the most likely classification(s) of net assets, if any, that are affected by each transaction of a not-for-profit entity. The entity reports the minimum required classes of net assets. Each choice may be used once, more than once, or not at all. Transaction - Answer 1. Legally restricted gains. 2. Expenses reported by functional classification. 3. Contributions of services that do not create or enhance nonfinancial assets or require special skills. 4. Costs of...
University Endowments (Questions 14 16) Private colleges and universities rely on money contributed by individuals and...
University Endowments (Questions 14 16) Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges revealed the following endowments (in millions of dollars): 75.1, 53, 249.9,497.2, 114.4,167.8,110.1, and 224.8. 14. What value will you used as an unbiased point estimate for the standard deviation...
Options are:
Non-exchange transactions
Net assets with donor restrictions
Collections
Variance Power
Board designated net assets
Endowment
Promise to give
For each of the following definitions, indicate the key term from the list that best matches by placing the appropriate terms. 1. Unrestricted net assets that the governing body decides to set aside for specific purposes The unilateral power of an organization to redirect donated assets of a different beneficiary than |initially indicated by the donor 3. Net assets for...
Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 81.8, 55, 245.7, 499.9, 116.1, 156.3, 107.3, and 211.9. What value will be used as the point estimate for the mean endowment...
Reporting Various Contributions Hopeville Retreat is a private NFP organization that counsels former drug addicts in readjusting to productive community life. Contributions provide the major support for Hopeville Retreat. During 2020, the following contributions were received: 1. $4,000,000 in cash was received from the semiannual fund-raising campaign. 2. $5,000,000 in cash was received in a capital campaign for the purchase of new facilities. 3. A local store donated clothing valued at $7,000; cost to the store was $5,000. 4.A flat-screen...
Question 2 4 pts Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 81.8, 55, 245.7, 499.9, 116.1. 156.3, 107.3, and 211.9. What value will be used as the point estimate...
University Endowments (Questions 14 16) Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges revealed the following endowments (in millions of dollars): 75.1, 53, 249.9,497.2, 114.4,167.8,110.1, and 224.8. 14. What value will you used as an unbiased point estimate for the standard deviation...
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