Explain whyitis important to identify whether the institution is Public or Private.

Clarifywhich of the twopublic or privatefollow the same reporting guidelines as nongovernmental not-for-profit organizations.

Analyze, in general terms, the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.

Identify the majorformatdifferencesin financial reporting for public and private colleges and universities.

Formulate an opinion about whichstatement provides more transparent information regarding revenues and on the amounts of restricted resources.