Question: Answer the questions below about Not-for-Profit entities using complete sentences and proper references to the authoritative code(FASB Accounting Standards Codification). 1. How should Non-Profit entities

Answer the questions below about Not-for-Profit entities using complete sentences and proper references to the authoritative code(FASB Accounting Standards Codification).

1. How should Non-Profit entities present contributed assets that are considered non-financial in nature in the Statement of Activities? What is the required date of implementation of the guidance you found?

2. A Not-for-Profit entity offers programs that cost more to operate than the price of registration for participants. The Not-for-Profit uses contributions without donor restrictions to make up for the cash flow shortfall .For impairment testing, should the entity consider those contributions when comparing the cash flows to the carrying value of an asset?

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