Good evening to everyone, can I get some help with my accountinghomework:
1. What is meant by "variance power?" Suppose that a charitablefoundation receives a gift that the donor specifies must be used tosupport the college education of a particular individual. What isthe relevance of "variance power" in how the foundation accountsfor the gift?
2. Besides a Balance Sheet, Income Statement, and a Statement ofCash Flows, what additional financial statement is required to bepresented by a Voluntary Health & Welfare Organization? Why isthis statement required? Also explain the purpose of this statementand the elements required to be presented.
3. How and when does a not-for-profit entity report pledges?
4. What factors must a nonprofit consider when recognizingcontributions?
Thank you in advance.
Good evening to everyone, can I get some help with my accountinghomework:
1. What is meant by "variance power?" Suppose that a charitablefoundation receives a gift that the donor specifies must be used tosupport the college education of a particular individual. What isthe relevance of "variance power" in how the foundation accountsfor the gift?
2. Besides a Balance Sheet, Income Statement, and a Statement ofCash Flows, what additional financial statement is required to bepresented by a Voluntary Health & Welfare Organization? Why isthis statement required? Also explain the purpose of this statementand the elements required to be presented.
3. How and when does a not-for-profit entity report pledges?
4. What factors must a nonprofit consider when recognizingcontributions?
Thank you in advance.
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