厄尔·R·威尔逊-政府与非营利组织会计-Chapter016.pptVIP

 Accounting for Colleges and Universities Chapter 16 Learning Objectives After studying Chapter 16, you should be able to: Distinguish between GAAP for public and private colleges and universities (CU). Describe financial reporting for governmentally owned CU. Learning Objectives (Cont抎) Discuss accounting and reporting issues for all CU, such as accounting for: Assets, liabilities, and net assets. Revenues and expenses. Cash flows. Journalize transactions for private CU following SFAS No. 116 and SFAS No. 117. Prepare financial statements for governmentally owned CU following GASBS 35. Learning Objectives (Cont抎) Prepare financial statements for private colleges and universities following SFAS No. 117. Discuss managerial, auditing, and reporting issues, such as: Performance measures. Auditing. Federal financial assistance. Related entities. GAAP for Colleges and Universities Public CU Private CU GASBS 35 SFAS Nos. (1999) 116 and 117 (1993) GASBS 34 as special-purpose governments AICPA AAG- State and AICPA AAG - Local Governments Not-for-Profit Organizations 1 Statement of net assets (see Ill. 16-1), classifying net assets into: Invested in capital assets, net of related debt Restricted Unrestricted Statement of revenues, expenses and changes in net assets (see Ill. 16-2) Statement of cash flows (see Ill. 16-3) Financial Statements for a Public CU 1 Statement of financial position (see Ill.16-4), classifying net assets into: Unrestricted Temporarily restricted Permanently restricted Statement of activities (see Ill. 16-5) Statement of cash flows (see Ill. 16-6) Financial Statements for a Private CU Assets Assets available for all purposes of the CU at the discretion of the governing board are unrestricted, and arise from Instructional, research, and public service programs Auxiliary activities; such as residence halls, food service,