Assignment: Donor-restricted Assets

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Assignment: Donor-restricted Assets

Assignment: Donor-restricted Assets

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Unrestricted net assets include net assets that have not been externally restricted by donors or grantors, such as the excess of revenues to expenses from operations. Unrestricted net assets include net assets that are contractually limited by the governing body, such as proceeds of debt issues, funds deposited with a trustee and limited to use by an indenture agreement, and funds set aside under self-insurance arrangements and statu- tory reserve requirements. Temporarily restricted net assets include donor-restricted net assets that the organization can use for the donor’s specific purpose after the organization has met the donor’s restriction, such as the passage of time or an action by the organiza- tion. Permanently restricted net assets include donor-restricted net assets with restrictions that never expire, such as endowment funds. In fiscal years beginning after December 15, 2017, organizations will be expected to present net assets in two categories instead of three: “net assets without donor restrictions” and “net assets with donor restrictions.” Generally accepted accounting principles (GAAP) will require organizations to disclose the amount, purpose, and type of board restrictions for net assets without donor restrictions, and GAAP will require organizations to disclose the nature and amount of donor restrictions for net assets with donor restrictions (Connor and Mosrie 2016).

liabilities Shareholders’ equity is the current AICPA-approved term for the difference between assets and liabilities in for-profit healthcare organizations; it represents the ownership interest of stockholders in the organization. Shareholders’ equity is also called stockholders’ equity, owners’ equity, or net worth and comprises common stock and retained earnings. Common stock is money invested in the organization by its owners. Retained earnings result from income earned by the organization from operations minus dividends (distributions of earn- ings paid to stockholders based on the number of shares of stock owned).

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