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Acc 460 Uop Course Complete Week 4

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ACC 460 UOP Course Complete Week 4
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Week 4
Individual Ch. 9 & 10 Textbook Exercises
Resources: Ch. 9 & 10 of Government and Not-for-Profit Accounting
Prepare written answers to the following assignments from Government and Not-for-Profit Accounting:

• Ch. 9: Exercise 9-3, Part a
Ch. 10: Questions for Review and Discussion 1, 5, & 15
Learning Team Ch. 5 & 10 Textbook Problems
Resources: Ch. 5 & 10 of Government and Not-for-Profit Accounting
Prepare written answers to the following problems from Government and Not-for-Profit Accounting:

• Ch. 5: Problem 5-11 – Nonexchange expenditures are the mirror image of nonexchange revenues.
Ch. 10: Problem 10-7, Parts 1, 2, & 3 – The basic financial statements of a pension plan provide only limited amounts of information as to its economic condition.
Discussion Questions
DQ 1
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?
DQ 2
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?
DQ 3
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?
DQ 4
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?


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