Question: Analyze the financial statements and audit report of a not-for-profit organization readily and publically available on an active website.
Address the following:
A) 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.
B) Compare the organization's reporting of pledges and contributions to its reporting of exchange transactions. How should they be recorded and subsequently reported in the financial statements.
C) Explain the impact if your not-for-profit confers excess economic benefits on disqualified persons.
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