Question: Using Chapter 13 in the textbook, summarize the major types of colleges and universities. Identify the accounting standards that these educational institutions are required to

Using Chapter 13 in the textbook, summarize the major types of colleges and universities. Identify the accounting standards that these educational institutions are required to follow.
Imagine that you work in the accounting department of a university and your boss has asked you to explain and discuss components of revenue or expense that are reported on the university's statement of revenues, expenses, and changes in net asset. Discuss at least two (2) unique situations or transactions that you may encounter.

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The Governmental Account Standards Board GASB governs the reporting of financial data for public universities and colleges The Financial Accounting Standards Board FASB governs private universities an... View full answer

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