This work of ACC 460 Week 4 DQs consists of:
DQ1:
1. What financial statements are required of not-for-profit organizations?
2. How are they different or comparable to those provided by organizations that operate for profit?
3. How does the retained earnings section of for-profit organizations differ from that of the net assets section of not-for-profits?
DQ2:
1. What are the three classifications of net assets established by FASB Statement 117?
2. How are these net assets affected by the existence or absence of donor-imposed restrictions?
3. How are releases of these net assets accomplished?
DQ3:
1. What constitutes a pledge or contribution?
2. When does a not-for-profit organization recognize pledge revenue and contribution revenue?
3. How do contributions differ from exchanges?
DQ4:
1. In what significant way do not-for-profits account for investments differently from businesses?
2. How are investments reflected in the statements of not-for-profits?
3. What are the disclosure requirements for not-for-profits as related to investments?
