Government And Not-For-Profit Accounting Discussion Post: "Accounting Standards for Colleges and Universities"
• Summarize the major types of colleges and universities. Identify the accounting standards that these educational institutions are required to follow.
• Imagine that you work in the accounting department of a university and your boss has asked you to prepare a financial statement presentation of the endowments. Discuss the three types of endowments and how they are presented on the financial statements of a public and a private university or college. In your discussion explain the restrictions imposed on each type of endowment and the corresponding justification for designation as restricted or unrestricted.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.