Essay Available:
Pages:
1 pages/≈275 words
Sources:
2
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:
The Nature of Contributors to the Organization
Essay Instructions:
2 seperate discussion topics
Topic #1
Refer to the March of Dimes Foundation financial statements found in your textbook. A note to the financial statements indicates that the foundation recognized $1,270 of contributed services in the statements. The note also states that many other volunteers contributed services, but that these services are not recognized in the financial statements.
Topic #2
There are three types of endowments. Identify the three types and compare how they are presented on the financial statements of public institutions as opposed to a private college or university.
Essay Sample Content Preview:
The Nature of Contributors to the Organization
Topic 1
For nonprofit organizations, there is usually some sense of consideration when it comes to the treatment of financial information, particularly to do with the nature of contributors to the organization. Typically, the information that is usually captured in these statements is usually that of contributions from the public domain, who are categorized as that. However, contributions from volunteers is not normally recorded in the corporate financial statements (Tooley & Hooks, 2020). Some of these contributions by volunteers are not usually recorded in the financial statements because they do not satisfy some of the conditions of a proper accounting paradigm. For example, a service must be towards a certain skill and also should be provided by a person who is skilled in that particular line. When a donor gives a significant amount towards the organization, it is usually recorded as financial activity.
Topic 2
The three types a...
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