The human resources specialist at the CPA firm where you work, you recently joined the board of
Question:
The human resources specialist at the CPA firm where you work, you recently joined the board of a local professional association of human resource managers, thinking it might be a good place to pick up new clients as well as hone your human resources skills. Because of your CPA background, other board members describe how the group puts on an annual conference for its members with educational workshops and speakers. This year, the board is considering the sale of exhibit space to vendors. The additional revenue could be substantial and help support the association’s mission. They have heard of unrelated business income (UBI) and how it might result in taxes or penalties for the nonprofit group. Discuss what questions you might have for the board to develop the appropriate facts.
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus