Unformatted text preview: Financial Statements of Not-for-Profit Organizations , issued by the Financial Accounting Standards Board. (a) Review the &quot;Facts about FASB&quot; at the Financial Accounting Standards Board website (www.fasb.org). What is the FASB and what is their primary role? (b) Locate SFAS No. 117 on the FASB website, and identify the required financial statements of a not-for-profit organization. Comment on similarities and differences between the required financial statements of a business enterprise versus a not-for-profit entity....
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- Spring '11
- Accounting, Non-profit organization, Financial Accounting Standards Board, Voluntary association, Donation, financial accounting standards