NFP Transfers of Assets and Other Accounting Issues (F8:M6)

Question 1

marketable equity securities with readily determinable fair values and all investments in debt securities are measured at what value and in what FS?

Answer 1

FV; statement of financial position

Question 2

in what FS are G/L on investments reported and how are they recorded?

Answer 2

in the statement of activities as increases or decreases in NA without donor restrictions unless their use is restricted by explicit donor stipulations or law

Question 3

underwater endowments require what 3 disclosures?

Answer 3

FV of the underwater endowment

Endowment gift’s original amount

Deficiency