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19 Cards in this Set
- Front
- Back
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Financial statements used for Govt. Hospitals
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Stmt of Net Assets
Stmt of Revs, Exps, and changes in net assets stmt of cash flows |
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Financial statements used in VHWOs and ONPOs
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1. stmt of financial position (BS)
2. stmt of activities 3. stmt of cash flows 4. (vhwo) stmt of functional expenses |
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Net Asset categories for Govts
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1. Invested in capital assets, net of related debt
2. Restricted N.A. 3. Unrestricted N.A. |
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Categories of Net Assets for Non-govt. NFPs
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1. Unrestricted
2. Temporarily restricted 3. Permanently restricted |
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Special Purpose Govt's require: (FS)
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1. 3 Fund Stmts
2. Notes to the finan. stat. 3. MD&A 4. Other RSI |
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Non-govt Hospitals have what financial statements?
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1. Stmt of Operations
2. Stmt of changes in Net Assets 3. Stmt of cash flows 4. Balance Sheet |
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The only revenues recorded at gross are for what entities?
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VHWOs and ONPOs
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Pledges are recorded at.... (VHWO)
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net expected unconditional pledge for pledges w/in one year
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Supporting Services include:
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Fund-raising and Management and General expenses
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Restricted Net assets have 2 classifications: (govt)
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expendable and nonexpendable
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Operating grants in govt. colleges are classified as
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Non-operating revenue
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Operating grants in private colleges are classified as:
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Operating revenue
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Operating grants in govt. colleges are classified as
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Non-operating revenue
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State appropriations for govt colleges are
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non-operating revenues
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State appropriations for private colleges are
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operating revenues
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The last item on college/univ operating statment is
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additions to permanent endowment
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How do reimbursement grants differ in govt. and non-govt colleges?
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in govt., they are recognized as revenue when expenditures are incurred. in non-govt, recognized when awarded.
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true or pure endowments
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given in perpetuity
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term endowments
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may be expended after a specific date or event
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