39 Flashcards
deck 39
what are fin’ly interrelated org’s?
(1) 1 org has ability to influence the op. and fin. decisions of other, AND
(2) 1 org has an ongoing econ. int. in NA’s of other
what is the JE for assets rec’d when not fin’ly interrelated and w/o variance power?
*NFP acts as agent
*JE:
Dr: A (FV)
Cr: refundable adv. (L)
JE for assets rec’d that are not fin’ly interrelated but w/ variance power:
*NFP acts as agent, donee acct and has unilateral authority to redirect A’s to another ben.
*JE:
Dr: A (FV)
Cr: contr
JE for fin’ly interrelated w/ or w/o variance power:
*donee acct
*JE:
Dr: A (FV)
Cr: contr
what is beneficiary acct?
rights, when recog’d, will be recorded as a receivable and contr, ben. int, or change in int. in NA’s
*not related w/o ben int:
Dr: Rec.
Cr: contr
*not related w/ ben int:
Dr: ben int
Cr: contr
*related w/ int in NA’s:
Dr: int in NA’s
Cr: change in int in NA’s (E)
how are underwater endowments calc’d? “FED”
*occur when FV of fund at reporting date is less than OG gift amt
“F”V of endowment
= “D”eficiency (disclose)
how should marketable equity sec’s be reported in the BS of a NFP?
FV w/ G/L reported on statement of act’s
when are warranty costs recog’d?
when the P/S is sold
how are profits treated for financing leases under IFRS?
they are all def’d and amort’d over lease term
how is BV per share calc’d?
common E - pref’d E
/ CS o/s
————-
= BV per share
what acc’ty do gov-wide and funds focus?
- gov-wide = op’l
- funds = fiscal
any debt that is to be repaid from general res’s are reported where?
in the gov-wide statement of NP
what is the BASE formula for unearned rev?
BB + CR’s - rev’s = EB
do interim FS’s filed w/ SEC include CF’s?
they should include CF’s for period b/w end of preceding fiscal year and most recent fiscal quarter, or CF’s for cumu 12 months ended during the most recent fiscal quarter
*do NOT include CF’s for most recent fiscal quarter only
PV of a bond’s expected net FCF discounted at market rate provides what info about the bond?
price
