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19 Cards in this Set

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