Order 6630382-APA- Government and Institutional Accounting - Week 1 Project

Compared to direct transactions between ultimate fund users and providers, fee-charging, profit-oriented financial institutions provide the benefit of _____. I. reducing the search costs and improving matching between fund users and providers II. transforming the size, duration, risk and liquidity of assets to better serve the needs of fund users and providers III. providing information-related products and services to fund users and providers Group of answer choices a. I b. I and II c. I and III d. I, II and III

Summary objectives under new government accounting system

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Considering the importance of financial record keeping, which financial documents do you need keep, file and report?  Which method is best for creating and organizing them in a timely and accurate way?  Why are these documents so important for your grant writing, foundation proposals, and other funding events?  How do these documents enhance credibility and reputation with potential funding sources?

As the manager of a nonprofit organization please list five policies that you can implement to protect your organization's cash?

1-20 Comprehensive performance measurement in public and nonprofit organizations Organizations in the public and nonprofit sector, such as government agencies and charitable social service entities, have financial systems that budget expenses and monitor and control actual spending. Explain why these organizations should consider developing a compre- hensive set of performance measurements (including nonfinancial measures) to monitor and report on their performance. Provide examples of financial and nonfinancial measures that should be included in such a comprehensive set of measurements. Thanks! ps. need answer asap

Which of the following statements is/are true? i. Information is the raw material for data processing. ii. External sources of information include an organization's financial accounting records. III. The main objective of a non-profit making organization is usually to provide goods and services.   I and III only I, II, and III II and III only III only

Explain to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for governmental entities.  Explain why governments use fund accounting. Analyze the importance of budget and control of government resources. Explain how the GASB revenue and expense recognition model may improve the usefulness of the information governments report to the public. Format references according to APA guidelines.

1.Explains the importance and role of the business fund (business activities) in government entities.2. How company fund accounting (business activities) compares to accounting for a for-profit company.

During an internal audit of a non-profit organization, it is found that there is a lack of clear policies for donor fund management. What should the auditor recommend to enhance governance and transparency? ○ A. Cease accepting donations until a solution is found. B. Limit the number of donors to reduce complexity. OC. Suggest that an external body manage the donor funds. O D. Develop and implement comprehensive donor fund management policies.

(a)     Financial reporting in the public sector involves reporting on the government’s financial position and its financial performance. Essentially, it concerns a process of communicating the financial information, whereby elected official make informed choices about how to use the government’s limited resources to best serve the interest of the public. Discuss FOUR (4) objectives of financial reporting.                  (b)     All government revenues and monies received have to be accounted for into a fund known as the Consolidated Fund. Fund Accounting is a self-contained accounting entity with its own assets, liabilities, revenues, expenditures and fund balance. It is the financial accounting techniques adopted and reported in terms of funds in the operating statements and balance sheet of public sector organizations. There are three types of Consolidated Account in the fund. Discuss the THREE (3) accounts of Consolidated Fund.

Discuss the basic assumptions of CVP analysis and how can we use CVP analysis in making decisions in a not-for-profit organization, as well as a for-profit organization?

The cornerstone of external financial reporting for governmental units and not-for-profit organizations is: a. to show the flow of financial resources b. to determine profit or loss c. to compare budgeted to actual resources  d. accountability

As this and the previous chapter have discussed, public colleges and universities follow GASB standards. These schools have been directed to use the same reporting model as state and local governments. Such schools frequently classify themselves as special purpose governments consisting solely of business-type activities. In that way, they only need to produce fund financial statements as an enterprise fund.In contrast, private not-for-profit colleges and universities adhere to FASB Accounting Standards Codification® requirements and prepare financial statements. U.S. GAAP for public schools comes from GASB while, for private schools, it comes from FASB.Readers of college and university financial statements might want to compare the data presented by various institutions. This information is especially important to potential donors who are attempting to evaluate each school’s efficiency and effectiveness in utilizing the funding that it receives.Are decision makers well served by the…