ACCOUNTING FOR NONGOVERNMENT NONBUSINESS ORGANIZATIONS: COLLEGES AND UNIVERSITIES, HOSPITALS AND OTHER HEALTH CARE ORGANIZATIONS
LEARNING OBJECTIVES
Describe the source of accounting standards for nongovernment nonbusiness organizations (NNOs).
Identify the three basic statements for NNOs.
Describe the basic funds used by nongovernment nonbusiness organizations.
Distinguish between a current restricted fund and an unrestricted fund.
Explain the term “assets whose use is limited.”
Distinguish between a mandatory and a nonmandatory transfer.
Explain how contributions are recorded by NNOs.
Understand how donated services are recorded.
Describe the funds used to account for property, plant ...
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