Not for profit & Governemt Accounting Flashcards
(3 cards)
1
Q
How to treat charity work while calculating Net patient service?
A
We should always deduct from gross service revernue.
2
Q
How to treat donor imposed restriction that are met in same period they are received ?
A
Donor-imposed restrictions that are met in the same period they are received may be recorded as support (contribution revenue) WITHOUT donor restrictions, provided that the organization discloses and consistently applies this accounting policy.
3
Q
A
