Chapter 16 - Non-SLG Not-for-Profit Organizations: SFAS 116...

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Non-SLG Not-for-Profit Organizations: SFAS 116 and 117 Approach Chapter 16
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The Nonprofit GAAP Problem Private sector (nongovernmental) nonprofit organizations (NPOs) look to the FASB for GAAP Public sector (governmental) NPOs look to the GASB for GAAP Focus of this chapter is on nongovernmental NPOs
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Interested in two groups Voluntary health and welfare organizations (VHWOs) Other not-for-profit organizations (ONPOs) – which exclude Health care organizations (Chapter 18) VHWOs
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Primary Authoritative Guidance FASB #116 – Accounting for Contributions Received and Contributions Made FASB #117 – Financial Statements for Not-for- Profit Organizations FASB #124 – Accounting for Certain Investments Held by Not-for-Profit Organizations AICPA Audit and Accounting Guide, Not-for- Profit Organizations , adopts all this guidance
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Distinguishing Features of VHWOs Purpose – to meet a community health, welfare, or other social service need
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Chapter 16 - Non-SLG Not-for-Profit Organizations: SFAS 116...

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