...ACC460( Government and Non-Profit Accounting )Complete Class Click This Link to Get The Tutorial: http://www.myhomeworkspot.com/ACC455-Corporate-Taxation-Complete-Class-002.htm Week 1 Individual Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) Analysis Paper Prepare a 350- to 700-word paper comparing and contrasting GASB and FASB accounting. Explain the objectives of the two standards boards and how they are similar and different. Describe how the modified accrual basis of accounting differs from full accrual accounting. Format your paper consistent with APA guidelines. Discussion Questions DQ 1 Log into http://www.charitynavigator.org/. Choose a good charity and a bad charity and explain why you feel they should labeled good or bad. DQ 2 What is fund accounting? How does it compare to proprietary accounting? Why is fund accounting necessary? What are the major fund types? DQ 3 What are some examples of government and not-for-profit organizations? How do businesses measure success? How do government organizations measure success? DQ 4 What is the purpose of CAFR? What are the components of CAFR? Why is the Federal Government not subject to GASB 34? How do government-wide financial statements add information not available in fund financial statements? Week 2 Individual Ch. 1, 2, & 3 Textbook Exercises Resources: Ch. 1, 2, & 3 of Government and Not-for-Profit Accounting Prepare written...
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...Boeing 737 and an airbus 300 B4. Today the Airline has orders worth over US$ 68 billion for 200 more of the latest aircraft, with plans to operate in many more destinations in the months and years ahead. Emirates global network now sees it flying to over 110 destinations across 6 continents, operating a modern fleet of over 150 wide-bodied aircraft. Emirates airlines accounts to about 40% of the total movements of flights and aiming for at least 70% total flights coming in and going out of Dubai International Airport.” (http://www.emirates247.com/look-back-2010-onto-2011/the-most-popular-stories-of-2010) I am an accountant for Emirates Airlines and in charge of creating a project aiming to increase the company’s market share and gain more profit without sacrificing the company’s quality of services and reputation. I just recently began my employment in the company and now facing the big challenge of creating this project and attaining the goal of making it huge in international market and increasing our sales without compromising our excellent customer service. To be able to achieve this goal, I definitely need to focus in training and development of the company’s employees, both current and newly hired ones. I am optimistic about this project and I will do my best to make it work. However, I feel that accounting department alone cannot achieve this goal thus I...
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...Hopkins International Comparative Non-profit Sector Project has provided important data on the non-profit sector internationally. How has this data informed the development of theories of the non-profit sector?” Introduction The non-profit sector is essentially that part of social activity undertaken by non-governmental and non-profit organisations. Also known as the civil sector, public sector, voluntary sector or the third sector, this part of the economy is gone largely unnoticed but since the 1970s has become under investigation from scholars and economists alike who realised the sector’s large economic contributions. The industry subsequently began to expand; “Prompted by dissatisfaction with the cost and effectiveness of exclusive reliance on government to address the social welfare and developmental challenges of our time, efforts have been launched to find alternative ways to respond”. (Anheier and Salamon, 1992) Seemingly, citizens felt they could no longer rely on the government to neither solve their problems nor provide essentials. Accordingly this shifted the focus of attention to the emerging voluntary sector, which had long contributed to the alleviation of social problems on a global scale, but had long been overlooked in scholarly and economic analyses. Thus the third sector began to grow and became institutionalized in university based centres and academic departments. The unprecedented growth of the sector led to many governments sharing responsibilities with...
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...tax-deductible gifts from donors and offer completely legal receipts for those gifts. The donors to all four kinds of organization are able to take the donations off their taxes without fear if it was a genuine donation and no services or items of value were received in exchange. Here is a quote from page 2 from the IRS Tax Guide for Churches and Religious Organizations: Churches and religious organizations may be legally organized in a variety of ways under state law, such as unincorporated associations, nonprofit corporations, corporations sole, and charitable trusts. These are the four kinds of organizations that the IRS describes as being appropriate for a Christian group that is receiving donations: 1. The unincorporated association 2. The non-profit corporation 3. The corporation sole 4. The charitable trust It is our purpose in this article to give a little information about the strengths and weaknesses of each of these forms of legitimate organization. In this article, we are not attempting to give every detail of how these organizations function but simply to describe them briefly. We will write about these forms of organization in the order that the IRS publication listed them. 1. The unincorporated association: This is the form of all Christian groups that are meeting with little formal organization,...
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...round of food price increases. * Food prices have risen sharply through 2010 because Bangladesh remains a food deficit country. * Households affected by food insecurity cite lack of income as the main cause, closely followed by lack of land, according to the 2009 Welfare Monitoring Survey conducted by the Bangladesh Bureau for Statistics. * Agriculture engages 65% of the workforce, many of whom own no land. Furthermore, it is reported that 1% of cultivable land is lost each year to encroachment of urban settlements, industry and infrastructure - pressures which are unlikely to diminish. * Food policy situation * To provide food security actors in Bangladesh with a strategic orientation in food security planning, the government of Bangladesh...
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...examples of entities with for-profit, not-for-profit, and government financial environments in the health care industry. Compare the similarities and differences between the for-profit, not-for-profit, and government financial environments. For-Profit Not-for-Profit Government Examples 1. Edward White Skilled Nursing unit- St. Petersburg, Florida 2. Cleveland Clinic Hospital- Weston, Florida 3. Mt. Sinai Medical Center- Miami Beach, Florida 1. Regents Park Sunrise- Sunrise, Florida (Nursing Home) 2. Mercy Hospital, Inc.- Miami 3. St. Anthony’s Hospital- St. Petersburg, Florida 1. Jackson Memorial- Miami, Florida 2. Broward General Hospital- Ft. Lauderdale, Florida 3. Alexander Sandy Nininger State Veterans' Nursing Home- Pembroke Pines, Florida Similarities Must follow the same health regulations as nonprofit or government health facilities Must follow ethical regulations as a for-profit and government organization. Governments and not-for-profits are governed mostly by their budgets, not by the market. Must hire employees with the same training as a for-profit or nonprofit organization. Differences May give profits to shareholders. They must pay taxes to the IRS. Different in how they make their money. Not-for-profit’s incomes are not recognized by legal obligation but may be gained from contributions, fees, charges incurred, tuition, etc. They do not pay tax because of charitable contributions. Government may not be focus on the competition...
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...entities exist in. These include for-profit, not-for-profit, and government organizations. These environments have many similarities, as well as differences. Examples of these may include the Methodist Hospital in San Antonio, which is a for-profit organization; the American Heart Association, which is a not-for-profit organization; and the U.S. Department of Health and Human Services, which is a government organization. Each of these organizations has their own practices and policies unique to them. Not-For-Profit According to Investopedia (2016), a not-for-profit organization does not earn profits with the intent to line the pockets of an owner, but rather it is earned or donated and then used to achieve the goals or objectives of the organization. Many, but not all NFPs are charities or some other public service organization. NFPs are able to apply for a tax exempt status, as long as they meet certain criteria set by the state and federal government, thereby freeing them from most forms of taxation. Any donations that are made to the organization may be tax deductible for the person making the donation. According to Carter (2016), “Not-for-profit organizations raise capital by soliciting donations from businesses and individuals. Government and private grants may be used to fund the operation of a nonprofit organization. A not-for-profit organization may have an easier time getting the public to donate capital in comparison to a for-profit organization due to the perception...
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...University of Richmond October, 2008 Introduction: Leadership is a topic as broad as education or health care. Books, articles, workshops, lectures, and keynote speeches abound – not only in the area of business, but across sectors that include government, civic, academic, and charitable organizations. Leadership topics are limitless, as evidenced by the vast expanse of information available in bookstores, libraries, blogs, and corporate leadership schools. For the purposes of this paper, the focus is on the highest-profile trends embraced by thought leaders in the leadership arena. Specifically, this work centers on the similarities – and differences – in the way the different major sectors view and define the important competencies of their leaders. Questions prompting this research include the following: 1. What are the most valued concepts delivered in training sessions to leaders of non-profits versus leaders in the military? 2. How do governmental nuances determine the areas in which leaders must excel? 3. Do leaders in different types of business view the concepts of leadership differently, or do the trends relate to the same basic tenets? 4. Is the area of ethics limited to Fortune 500 CEOs or non-profit directors? The following outlines the key principles that appear to be the most valued leadership concepts and the most significant concepts imparted to each sector’s leaders. Four Sectors Explored For the purpose of this research, the focus...
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...Public/Private: Hospitals are primarily (70%) community based, non profit institutions. Government owned hospitals are usually operated by counties and states ³ Distribution of beds: 20.54 % public; 60.49 % private not for profit; 14.04 % private for profit; 4.93 % federal. ³ Categories: – Community Hospitals: non-government not for profit community hospitals; investorowned (for profit) community hospitals; state and local government community hospitals. – Federal government hospitals – Non-federal long-term care hospitals – Hospitals units of institutions (prison hospital, college infirmaries, etc.) PROVISION OF ACUTE HOSPITAL CARE: Number of beds per 1,000 inhabitants: 2.6 Number of admissions in acute care hospitals (% inhabitants): 11.9% Average length of stay (ALOS): 5.8 Average occupancy rate: 71%AND STRUCTURE: PROVISION OF SPECIALIZED AND LONG TERM CARE: ³ Annual number of out patients visits: 20,834,508 ³ Number of beds (per 1000 inhabitants): 0.4 ³ Number of admissions (per year): 1,561,964 ³ Average occupancy rate: 81% ADMINISTRATION AND MANAGEMENT: Information not available ³ Surveillance Authority: information not available International Hospital Federation ital F Federation ra HOSPITAL SECTOR: USA FUNDING: Total Revenue by source: Net Patient Revenue as a % of Total Net Revenue: 85.2 % Tax Appropriations as a % of Total Net Revenue: 8.3 % Other Operating Revenue as a % of Total Net Revenue: 4.6 % Non Operating Revenue as a % of Total Net Revenue: 1.9 %...
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...organizations that offer different medical services. Most of the health care organizations are profit, government, or nonprofit organizations. Most health care organization consist of hospitals, home and nursing care, and health care agencies. As for the health care insurance and hospitals they too can be profit, nonprofit, and most organization and figure out and focus on making a profit or not. For profit, nonprofit, and government each have different financial environments. The financial environment are based upon the organization and its structures. The financial structures of the organizations affect accounting practices and other practices that go along with the financial environment. The purpose of this paper is to give a description of the financial structures of nonprofit, profit, government environments while stating the policies, practices of each environment. QUESTION 1 For profit organizations they are there to serve the public. For profit organizations are working with others to make a profit to meet their needs and objectives. For profit organization work to make revenue so they invest and they need to make a certain amount of profit to get and keep the things they need. They have to watch their balance and revenue and they are required to pay taxes that make effect there financial environment. Non for profit organizations are not required to make a profit. Not for profit organizations help and offer low cost to patients. In some cases patients may be required to...
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...several other questions. This includes the question of, “do we hold non-profit to a different standard than other companies?” Upon pondering this question and the broadness of it. The decision was made to write about it this week in an article summary. Only, where was I going to start on finding an article that could expand on this question without being too broad? After giving it some thought, I decided to do some research on whether or not government held non-profit organizations to a higher standard. For the sake of this article, I want to focus on whether or not government holds non-profit organizations to a different standard in terms of getting grants to fund such programs. After reading the article White House (n.d.) Guidance to Faith-Based and Community Organizations on Partnering with the Federal Government. Retrieved February 8, 2012 from http://www.ethicsinstitute.com. Every year, "the federal government" spends billions of dollars for health and human service programs. When it comes to non-profit, however, the government has made it difficult. There are a lot of bureaucratic and administrative obstacles. Starting with the fact that most program officers are often unfamiliar with the work that non-profit groups do. In August 2001, the White House Office of Faith-Based and Community Initiatives released a report. Unlevel Playing Field that identified many of the barriers that faith-based and non-profit organizations face in accessing Federal...
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...Business Environment Nicole Williams Introduction of Business Professor Leigh Strayer University January 27, 2013 Business is a pattern of complex operations in the lives of people concerning all those functions that govern the production, distribution, and the sale of goods and services for the benefit of the buyer and the profit of the seller (Funk & Wagnalls, 1993). Entrepreneurs who start and manage businesses do so for successful profits. In any capitalist economy, businesses play an important role. Businesses are the major providers of employment, goods and services, and as a result of supply and demand, the major drivers of economic growth in an economy. When significant usage of the factors of production such as natural resources, capital, human resources, and entrepreneurship is achieved to their maximum objectives, more profits are made (McGowan, 2012). Therefore, an increase in capital is made from each business for the economy. This process enriches and stimulates the economy with a better standard of living for its people in the nation. Businesses provide people with more opportunities, choices, and freedoms to enjoy their lives without having to produce all goods and services on their own like growing on own food or making our own clothes. The role that business plays in the economy consists of a multitude of things. There must be a market in which allows buyers and sellers to discover information about one another to complete voluntary exchanges...
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...entities with for-profit, not-for-profit, and government financial environments in the health care industry. Compare the similarities and differences between the for-profit, not-for-profit, and government financial environments. | |For-Profit |Not-for-Profit |Government | |Exampl|Hospitals |Hospitals |Veteran hospitals | |es |Clinics |Home health |Long term care | | |Long term care |Long term care |Clinics | |Simila|Make money through daily operations. |Make money through daily |Make money through daily | |rities|Health care organization have |operations |operations | | |contracts with insurers, government, |Nonprofit and government get |Nonprofit and government get | | |payment from government insurance |property tax exemptions. |property tax exemptions. | | |like Medicare & Medicaid, work under |Health care organization have |Health care organization have | | |same health care regulations. |contracts with insurers, |contracts with insurers, | | |Nonprofit and for profit have board |government, payment from |government, payment from ...
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...Government Hospitals Duty to Provide Services Cathy Roberts Health Care Policy, Law, and Ethics July 24, 2012 Dr. Jerry Blackwell This paper discusses how government hospitals provide services. One can say that providing medical facilities to public is primary duty of government. The government collects taxes for various services including a medical facility that is required by the public. However there inadequate medical facilities provided by the government and the quality of service in government is also very poor. Private hospitals are also flourishing with very poor quality of medical services available in government hospitals. The poor service in government hospital is reasons that doctors and other officers and staff employed in government hospitals at hefty salaries do not work as they should. There also appears corruption in various department which causes only about 25-30% of funds reaching to intended beneficiaries. It is observed that only on admission days of the unit in which doctor is in charge, he works fully rather and may have to put more than normal efforts and hours on that day. On other days, senior doctors in government hospitals hardly work for about 40-50% of time which they should have spent (www.taxmanagementindia.com). Based on my research there are corruptions in government hospitals lower attendance working only about 1/3 time on overall basis. The general feeling is that in government hospitals also there are lot of...
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...The Bradford royal infirmary, also known as BRI, is a large teaching hospital and is in Bradford, West Yorkshire, England, and is run by the Bradford teaching hospitals NHS foundation trust. The Bradford royal infirmary was built in 1936. BRI provides a full range of big and small services for the people of Bradford. Over the years, the hospital has expanded and has built a number of units for the hospital, and is has grown compared to hospitals 20 years ago. Private sector ASDA is a private sector business and its aims are to sell goods to customers such as groceries, clothes and, the more recent items in stock, electronics. Private sector companies, such as ASDA, are owned by one or more people and are not owned by the government so they are all-profit based companies. ASDA is a Ltd company, This implies that the shareholders' obligations regarding the organization's financial liabilities are restricted to the values of shares that they claim however haven't paid for. Organization executives aren't personally in charge of debts the business can't pay in the event that it turns out badly, as long as they haven't broken the law Public sector The BRI is a public sector...
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