FASB Statement No. 117 directs that revenues and expenses be reported in a statement of financial position.
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Q6: Donor restrictions are only recognized when there
Q7: Traditional financial ratios, such as measures of
Q8: Assets without donor restrictions cannot be restricted,
Q9: Temporarily restricted funds related to plant and
Q10: The FASB requires external financial reports to
Q12: Expenses should be classified as unrestricted or
Q13: The basis of accounting used by not-for-profit
Q14: All not-for-profit organizations, including city-owned museums and
Q15: Unlike governments, not-for-profits should not recognize contributions
Q16: The FASB requires the balance sheets of
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