Government and Not-for-profit Financial Reporting

Question1 ( 1500 words ) /0x4*

Before you prepare the financial statements for a Public Health Center, you need to review the financial reporting requirements for governmental and nonprofit organizations.

Determine the following:
The governing authority for regulating the financial reporting of both governmental and nonprofit organizations.
The financial statements required.
What is required in the notes and other narratives in the annual report?

Question 2 ( 500 words total )

Critique three ideas, concepts or topics from this course, ( Financial Statements, Analyzing financial statements, Government and Not-for-profit Financial Reporting,) and reflect on how they relate to the course objectives and your career aspirations.

Question 3 ( Submit 15 PowerPoint slides with a 1500 words of speaker’s notes. )

You have now researched and reviewed a for-profit and a governmental non-profit institution. Both have reporting requirements. Compare and contrast the financial reporting requirements for both of these and how the various types of organizations use the examples that you have pulled throughout the course including the Sarbanes-Oxley Act. You will be preparing a quarterly summary of who you have trained and what knowledge has been gained throughout your months of research. The summary will be presented to the Senior Leadership in your institution so you can assure them that this team has been successful in applying their research to the various organizations.

Question 3 ( In 400 words )

Governmental accounting gives substantial recognition to budgets, with budgets being recorded in the accounts of the governmental unit.

What is meant by budgetary accounting?
What is the purpose of a governmental accounting system?
Why is the budget recorded in the accounts of a governmental unit?
Explain the purpose and significance of appropriations.
Describe when and how a governmental unit
records its budget, and closes out the budgetary accounts.

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