37 Flashcards
deck 37
what is the treatment of CF’s from a FA acq’s with a down pmt and financing for the remainder?
- down pmt = CFI
- financing = CFF “P” pmt
- remaining amt is considered “non-cash I and F act” disclosed sep’ly
..generally, the amt reported for this activity would be the non-cash portion
in CF’s, if used equip. is sold at a gain, amt shown as CFI act’s = CV + what?
plus the gain/proceeds from sale
what are the req’d FS’s for NFP’s?
- statement of fin. pos. (BS)
..includes A, L, and NA’s
- statement of act's (I/S) ..has 3 req'd elements: (1) change in total NA's (2) change in NA's w/o donor (3) change in NA's w/ donor
- statement of CF’s
- notes to FS’s
how are exp’s reported in NFP’s? (3 ways)
*they are reported by nature and function
1) face of statement of act’s
(2) sched. in notes
(3) separate FS
(no specific title from FASB
what items are included in NA’s?
*w/o donor restriction:
- finances gen. op’s and board desig’d funds
(quasi endowments)
- w/ donor restriction:
- specific ext. imposed limitations made by donor
are contr’s w/ donor-imposed restrictions recog’d as donor-restricted supp?
yes
what is the JE for use of program resources?
Dr: program exp
Cr: program rev
what are program svc’s (exp’s)?
- universities (edu + research)
- hospitals (patient care +edu)
- union (labor nego. + train)
- day care (child care)
what are supp svc’s?
- fundraising
- mgt + gen (admin exp)
- membership dvp.
what is included in the notes for exp. class’n for NFP’s?
2 columns of program act’s and supp act’s w/ totals agreeing to statement of act’s
what items are included in fundraising exp?
in supp act’s
items that induce potential donors to contribute to the entity
(cost of maintaining donor list, soliciting svc’s)
what are membership act’s?
in supp act’s
similar to marketing act’s
soliciting prospective members, gen. and admin exp
what is req’d for reporting exp’s by all NFP’s?
functional class’n in statement of act’s and natural class’n by function in notes
are exp’s reported as decreases in NA’s w/o donor restrictions?
yes
are grants to other org’s and DE included in total exp’s?
yes, they both are
can donor-imposed restrictions met in the same period they are rec’d be recorded as support w/o donor restrictions?
only if the org. discloses and consistently applies this AP
is residual interest the approp. characterization of NA’s for NFP’s?
yes, it is
in NFP statement of CF’s, does using the direct method req. reconc. of CFO?
no, it does not
what are op. act’s in in CF NFP?
- receipt/pmt for settlement of lawsuits
- ins. proceeds from settlements
- refunds from suppliers and refunds to cust’s
- charitable contr’s and distr’s
are contr’s of board desig’d funds for constr/purch of LT asset an op. act?
yes it does
