View the step-by-step solution to:

Differentiate between accounting for restricted funds in nonprofits and governments.

This question was answered on Jan 12, 2013. View the Answer
Differentiate between accounting for restricted funds in nonprofits and governments. Examine some of the possible reasons GASB issued statement 54 clarifying the reporting and classification of funds for governmental accounting.
FASB 117 provides the guidelines for reporting for nonprofits. Assess if FASB 117 establishes the same guidelines as GASB 54. Support your position.
Sign up to view the entire interaction

Top Answer

Let me explain the... View the full answer

8419047.docx

The main difference between the accounting for restricted funds in nonprofits and governments
is that in nonprofit organization the net assets (assets-liabilities) is further broken down into
three...

This question was asked on Jan 10, 2013 and answered on Jan 12, 2013.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards