NFP Flashcards
a complete set of FS for NFP
statement of financial postion as of end of period statement of activities statement of CF note emphasize infor about entity as a whole
net asset in NFP
net asset without donor restriction and net asset with donor restriction
financing activities in NFP
include receipts of restricted resources that by donor stipulation must be used for long term purpose
non cash investing and financing report where ?
report in the related disclosure,
ex: obtaining asset by assuming lia, exchanging noncash asset or lia for another
functional expenses
program services, management & general , and fundraising
program expenses
relate directly to the mission
include direct and allocation of indirect cost
supporting expenses
management & general + fundraising + membership development
professional roofer repair the roof, how to recog ?
an increase in expense and increase in contribution from donated services
if investment applies Uniform Prudent Management of Institutional Funds Act (UPMIFA)
without other language in the gift instrument, the assets in the fund (including the return) are net assets with donor restrictions until appropriation.
investment in common s tock and investment in debt securities measure at ?
fair value , even for BOND. G/L reported in statement of actvities
G/L on investment purchased with net asset with donor restriction ? report where
unless explicitly restricted by donor or law, G/L report in statement of activities as increase or decrease in net asset without donor restrictions
wut is net patient service formula
gross rev - charity care - contractual adj ,;;
remember to ignore provision for bad debt
when supplier cancel invoice
debit payable, credit other operating revenue
NFP healthcare entity FS
statement of financial postion as of end of period
statement of activities
statement of CF
statement of changes in net asset
