Questions

Which organization is responsible for issuing reporting standards for private not$-$for$-$profit colleges and universities?

What information do financial statement users want to know about a private not$-$for$-$profit entity?

What financial statements are required for private not$-$for$-$profit colleges and universities?

What are net assets without donor restrictions?

What are net assets with donor restrictions?

In reporting the functional expenses of a not$-$for$-$profit entity, what are the two general types of expenses? How can functional expenses

be reported?

What ratio is frequently used to assess the efficiency of private not$-$for$-$profit entities?

What are board$-$designated funds, and how are they reported?

What disclosure is necessary to describe the liquidity position of a private not$-$for$-$profit entity? Why is this disclosure viewed as

significant to readers of the financial statements?

Wilson Helps is a not$-$for$-$profit entity that has exchange transactions but also receives donor contributions. How can the entity's