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Financial and Accounting Guide for Not-for-Profit Organizations, Eighth Edition 2014 Supplement by John H. McCarthy, Nancy E. Shelmon, John A. Mattie

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CHAPTER 13

Voluntary Health and Welfare Entities

13.1 Accounting Principles

(a) Accrual Basis

13.2 Accounting for Contributions

(c) Donated Services

(e) Donated Securities

*(f) Donated Equipment and Fixed Assets

*(g) Timing of Reporting of Gifts

(ii) Pledges

*13.3 Accounting for Other Income

(a) Investment Income

13.5 Accounting for Assets

(a) Carrying Value of Investments

13.7 Financial Statements

(a) Balance Sheet

(iii) Supporting Services

13.1 Accounting Principles

(a) Accrual Basis

p. 215, first paragraph, second sentence. Add “unqualified” before “opinion.”

13.2 Accounting for Contributions

(c) Donated Services

p. 216, third paragraph should read: “But where the requirements of ASC 958-605 are met, and where the amounts are material, donated services must be recorded.”

(e) Donated Securities

p. 217, first sentence. Replace “revenue in the appropriate fund” with “an increase to temporarily or permanently restricted net assets.”

p. 217, second sentence. Replace “directly in the current” with “as an increase to” and “fund” with “net assets.”

*(f) Donated Equipment and Fixed Assets

p. 217, second sentence. Replace “in the current unrestricted fund” with “as an increase to unrestricted net assets.”

(g) Timing of Reporting of Gifts

*p. 217, first sentence. Add “or permanently” after “temporarily.”

(ii) PLEDGES

p. 217, second sentence. Add an “s” to “United Fund” and “(funds or organizations that raise money to help people and organizations in the community)” after it.

*13.3 Accounting ...

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