Week 10 - Assignment: Financial Reporting Review of a Not-for-Profit Organization

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Assignment 3

Assignment 3: Not-for-Profit
1) What this is asking you to provide:
Determine if the NFP's statements conform to the FASB guidance, explaining how the selected NFP uses the required fund categories and recommend at least two areas of potential interest to stakeholders concerning the NFP's revenue and expense status. 1) In order to analyze the financial statements of your selected not-for-profit to see if they conform to FASB guidance, you have to state what the FASB guidance is. Next, identify in you chosen not-for-profit these elements. Be specific. 2) Explain the three fund categories that your chosen not-for-profit uses. What are they? What information are they used to provide the financial statement reader? 3) Pick two areas of the revenues and expenses from the financial statements of your chosen not-for-profit and state why a stakeholder might be interested in these.
2) What this is asking you to provide:
Explain the format utilized and point out any unique areas of emphasis that differ from GAAP accounting format. 1) State the format (method used to prepare) the Statement of Cash Flows. 2) Explain what it is the statement covers. Be specific as to the sources and uses of cash. 3) Point out areas where the Statement of Cash Flows for you not-for-profit differs from GAAP.
3) What this is asking you to provide:
Compare the organization's reporting of pledges and contributions to its reporting of exchange transactions, discussing the funds used. 1) State how your chosen organization reports pledges and contributions. 2) State how your chosen organization reports exchange transactions. 3) What is the difference between the two? Be sure to include in the discussion the funds utilized for both.
4) What this is asking you to provide:
Assess the fiscal condition of the selected NFP organization, interpreting financial indicators specific to NFPs and financial ratios widely accpeted as being indicative of fiscal health. 1) A list of financial ratios that are widely accepted is located on pages 561-562 of your textbook. These should be presented for your chosen not-for-profit organization. If the financial statements do not present them in a statistical section, you need to compute them for your paper. 2) Be sure to state what each is telling you about the fiscal condition of your chosen not-for-profit. 3) Page 562 contains the other four ratios that you are required to present for your chosen not-for-profit. (fund-raising, program review, contributions, and grant analysis) After you present the ratio, state what that ratio tells you about your chosen not-for-profit.
5) What this is asking you to provide:
Use at least three quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time withing your assignment. 1) Link to chosen not-for-profit financial statements should be first reference. 2) FASB website where FASB guidance is located should be the second reference. 3) Each source should be cited at least once in the paper.
6) What this is asking you to provide:
Writing contains accurate grammar, mechanics, and spelling in accordance with SWS style. 1) Proof-read your work. 2) Run the paper through Grammarly. 3) Be sure your references and citations are properly formatted.

Rubric

Assessment 3: Not-for-Profit
1) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Determine if the NFP's statements conform to the FASB guidance, explaining how the selected NFP uses the required fund categories and recommend at least two areas of potential interest to stakeholders concerning the NFP's revenue and expense status. Did not determine if the NFP's statements conformed to the FASB guidance or explain how the NFP used the required fund categories or recommend at least two areas of potential interest to stakeholders concerning NFP's revenue and expense status. Did not determine or inadequately determined if the NFP's financial statements conformed to the FASB guidance. Did not explaining how the selected NFP used at least one of the required fund categories or recommended at least one area of potential interest to stakeholders concerning the NFP's revenue and expense status. Determined if the NFP's financial statements conformed to the FASB guidance, explaining how the selected NFP used at least one of the required fund categories and recommended at least one area of potential interest to stakeholders concerning the NFP's revenue and expense status. Determined if the NFP's financial statements conformed to the FASB guidance, explaining how the selected NFP used the required fund categories and recommended at least one area of potential interest to stakeholders concerning the NFP's revenue and expense status. Determined if the NFP's financial statements conformed to the FASB guidance, explaining how the selected NFP used the required fund categories and recommended at least two areas of potential interest to stakeholders concerning the NFP's revenue and expense status.
2) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Explain the format utilized and point out any unique areas of emphasis that differ from GAAP accounting format. Did not identify the the format utilized to prepare the Statement of Cash Flows or any unique areas of emphasis that differ from GAAP accounting format. Identified but did not adequately explain the format used to prepare the Statement of Cash Flows or did not accurately point out unique areas of emphasis that differ from GAAP accounting format. Identified but did not adequately explain the format utilized to prepare the Statement of Cash Flows and pointed out at least one area of emphasis that differ from GAAP accounting format. Accurately explained the format utilized to prepare the Statement of Cash Flows and pointed out at least one area of emphasis that differ from GAAP accounting format Accurately explained the format utilized to prepare the Statement of Cash Flows and pointed out at least two areas of emphasis that differ from GAAP accounting format
3) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Compare the organization's reporting of pledges and contributions to its reporting of exchange transactions, discussing the funds used. Did not or inadequately compared the organization's reporting of pledges and contributions to its reporting of exchange transactions and did not or inadequately discussed the funds used. Inadequately compared the organization's reporting of pledges and contributions to its reporting of exchange transactions and inadequately discussed the funds used. Accurately compared the organization's reporting of pledges and contributions to its reporting of exchange transactions, but did not discuss or inadequately discussed the funds used. Accurately compared the organization's reporting of pledges and contributions to its reporting of exchange transactions, discussing at least two funds used. Accurately compared the organization's reporting of pledges and contributions to its reporting of exchange transactions, discussing the funds used.
4) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Assess the fiscal condition of the selected NFP organization, interpreting financial indicators specific to NFPs and financial ratios widely accpeted as being indicative of fiscal health. Did not assess the fiscal condition of the selected NFP or inadequately assessed the fiscal condition of the NFP organization, providing irrelevant data. Inadequately assessed the fiscal condition of the selected NFP organization, providing financial indicators irrelevant for an NFP or irrelevant widely accepted financial ratios. Assessed the fiscal condition of the selected NFP organization, but did not provide a finanical indicator specific to a NFP or did not not provide at least two widely accpted financial ratios. Assessed the fiscal condition of the selected NFP organization, interpreting at least one financial indicators specific to NFPs and at least two widely accepted financial ratios. Assessed the fiscal condition of the selected NFP organization, interpreting both financial indicators specific to NFPs and widely accepted financial ratios.
5) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Use at least three quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time withing your assignment. Did not cite any sources. Did not cite the required number of sources and one or more sources were not credible, relevant or appropriate. Cited required number of sources but two sources were not credible, relevant or appropriate. Cited required number of sources but one source was not credible, relevant or appropriate. Cited at least three credible, relevant and appropriate sources.
6) Unacceptable  Needs Improvement  Satisfactory  Competent Exemplary
Writing contains accurate grammar, mechanics, and spelling in accordance with SWS style. Produced writing that lacks clarity, organization, or does not apply SWS sytl. There are significant issues with grammar, mechanics, and spelling. Overall, errors are significant in number (7 or more), and the reader will have difficulty understanding the writing. Produced writing that has noticeable issues with clarity, organization, and the application of SWS style. Errors in grammar, mechanics, and spelling detract from readability. Overall, there were frequent errors (5-6) and have a definite impact on the ability of the reader to understand the writing. Produced writing that attempts to be clear and well organized and to apply appropriate SWS style. Writing contains some errors in grammar, mechanics, and spelling. There are multiple errors (3-4) that distract from the reader's ability to understand the writing. Produced writing that attempts to be clear and well organized and to apply appropriate SWS style. Writing contains some errors in grammar, mechanics, and spelling. There may be occasional errors (1-2), but they do not impact the ability of the reader to understand the writing. Produced writing that is clear and well organized and applies appropriate SWS style. Writing contains accurate grammar, mechanics, and spelling with no errors.