ACC 460 Week 4 DQs

This work of ACC 460 Week 4 DQs consists of:

DQ1:

1. What financial statements are required of not-for-profit organizations?

2. How are they different or comparable to those provided by organizations that operate for profit?

3. How does the retained earnings section of for-profit organizations differ from that of the net assets section of not-for-profits?

DQ2:

1. What are the three classifications of net assets established by FASB Statement 117?

2. How are these net assets affected by the existence or absence of donor-imposed restrictions?

3. How are releases of these net assets accomplished?

DQ3:

1. What constitutes a pledge or contribution?

2. When does a not-for-profit organization recognize pledge revenue and contribution revenue?

3. How do contributions differ from exchanges?

DQ4:

1. In what significant way do not-for-profits account for investments differently from businesses?

2. How are investments reflected in the statements of not-for-profits?

3. What are the disclosure requirements for not-for-profits as related to investments?