Use the Annual Report of the organization you have selected to: a. Identify the financial statements that the entity presents and what additional disclosure it presents. b. Analyze how contributions are recognized (contributions revenues). Does the organization have net assets with restrictions imposed by donors? What is the nature of the restrictions?
Use the Annual Report of the organization you have selected to: a. Identify the financial statements that the entity presents and what additional disclosure it presents. b. Analyze how contributions are recognized (contributions revenues). Does the organization have net assets with restrictions imposed by donors? What is the nature of the restrictions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Select one of the following nonprofit organizations:
1.The American Accounting Association
2.American Red Cross
3.United Way
4.American Cancer Society
5.American Institute of CPAs
Use the Annual Report of the organization you have selected to:
a. Identify the financial statements that the entity presents and what additional disclosure it presents.
b. Analyze how contributions are recognized (contributions revenues).
- Does the organization have net assets with restrictions imposed by donors?
- What is the nature of the restrictions?
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