Review the information on non-profit educational institutions that you collected during Week 4. To the extent possible,
Question:
•GASB
•FASB
•National Association of College and University Business Officers
Prepare a document that answers the following questions.
•What are the issues related to reporting operating income? Consider:
◦Contributions and bequests
◦Gifts
◦Investment gains and losses
◦Change in value of split interest agreements
◦Tuition revenue
◦Scholarships
•Why might different types of educational institutions report operating income differently? Which accounting standards apply? Consider:
◦FASB requirements
◦GASB requirements
◦NACUBO guidelines
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Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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