Assignment: GAAP at Universities Analysis
Write a 700 to 1,050 words paper that analyzes the differences between generally accepted accounting principles for public and private colleges and universities.
1) Explain why it is important to identify whether the institution is Public or Private.
2) Clarify which of the two-public or private-follow the same reporting guidelines as nongovernmental not-for-profit organizations.
3) Analyze, in general terms, the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.
4) Identify the major format differences in financial reporting for public and private colleges and universities.
5) Formulate an opinion about which statement provides more transparent information regarding revenues and on the amounts of restricted resources.
Format your assignment according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.