Analyze the financial statements and audit report of a not-for-profit organization readily and publically available on an active website.
Create a 700- to 1,050-word overview of one not-for-profit organization in an area of interest to your team and review the financial statements and audit report for the organization.
Address the following:
• Evaluate how the selected not-for-profit's financial statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations.
• Compare the organization's reporting of pledges and contributions to its reporting of exchange transactions.(Mari)
• How should they be recorded and subsequently reported in the financial statements. (Mari)
• Explain the impact if your not-for-profit confers excess economic benefits on disqualified persons.