In determining the appropriate category of net assets in which to report endowment investment gains and losses, the last of three possible places to look is FAS 124, "Accounting for Certain Investments Held by Not-for-Profit organizations."

Question

Quizplus · Accepted Answer

FAS 124 is the primary source of guidance for accounting for endowment investments held by not-for-profit organizations.

In Determining the Appropriate Category of Net Assets in Which