2023 Accounting Standards for Colleges and Universities Please respond to the following Using Chapter | Assignments Online
2023 Accounting Standards for Colleges and Universities Please respond to the following Using Chapter | Assignments Online
Assignments Online 2023 Business Finance
“Accounting Standards for Colleges and Universities” Please respond to the following:
- Using Chapter 13 in the textbook, summarize the major types of colleges and universities. Identify the accounting standards that these educational institutions are required to follow.
- Imagine that you work in the accounting department of a university and your boss has asked you to prepare a financial statement presentation of the endowments. Discuss the three (3) types of endowments and how they are presented on the financial statements of a public and a private university or college. In your discussion explain the restrictions imposed on each type of endowment and the corresponding justification for designation as restricted or unrestricted.
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