Governmental Final
Terms
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- Financial statements used for Govt. Hospitals
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Stmt of Net Assets
Stmt of Revs, Exps, and changes in net assets
stmt of cash flows - Financial statements used in VHWOs and ONPOs
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1. stmt of financial position (BS)
2. stmt of activities
3. stmt of cash flows
4. (vhwo) stmt of functional expenses - Net Asset categories for Govts
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1. Invested in capital assets, net of related debt
2. Restricted N.A.
3. Unrestricted N.A. - Categories of Net Assets for Non-govt. NFPs
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1. Unrestricted
2. Temporarily restricted
3. Permanently restricted - Special Purpose Govt's require: (FS)
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1. 3 Fund Stmts
2. Notes to the finan. stat.
3. MD&A
4. Other RSI - Non-govt Hospitals have what financial statements?
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1. Stmt of Operations
2. Stmt of changes in Net Assets
3. Stmt of cash flows
4. Balance Sheet - The only revenues recorded at gross are for what entities?
- VHWOs and ONPOs
- Pledges are recorded at.... (VHWO)
- net expected unconditional pledge for pledges w/in one year
- Supporting Services include:
- Fund-raising and Management and General expenses
- Restricted Net assets have 2 classifications: (govt)
- expendable and nonexpendable
- Operating grants in govt. colleges are classified as
- Non-operating revenue
- Operating grants in private colleges are classified as:
- Operating revenue
- State appropriations for govt colleges are
- non-operating revenues
- State appropriations for private colleges are
- operating revenues
- The last item on college/univ operating statment is
- additions to permanent endowment
- How do reimbursement grants differ in govt. and non-govt colleges?
- in govt., they are recognized as revenue when expenditures are incurred. in non-govt, recognized when awarded.
- true or pure endowments
- given in perpetuity
- term endowments
- may be expended after a specific date or event