1. Why does the accounting treatment of colleges and universities depend on how the colleges or universities are held or owned?

2. What key reporting options are available to government colleges and universities?

3. In what significant ways would each of the major financial statements of a public university differ from those of a not-for-profit university? In what significant ways would the financial statements of a public university and not-for-profit university differ from a for-profit university?

4. A public university receives revenue from state appropriations. In which category of revenues should it report the state appropriations? Why?

5. Why are revenues presented on the financial statements net of scholarships and discounts?