Many colleges and universities are supported by the government, while others are supported by private organizations.

What bearing does the source of support have on the determination of authoritative accounting guidance?

What financial statements would be required by the respective standard$-$setting body of each type of institution?

How do these differences affect the comparability of information provided by these institutions?

How does a college that receives a balanced share of public and private sources determine the standards that need to be followed? Is this consistent?

Answer rating: 100% (QA)

The source of support for colleges and universities whether from the government or private organizations can have implications for the determination o... View the full answer