In this research activity you will locate 2 specified university financial statements. One will be accounted for as a government university and the other as a not for profit. Remember follow APA standards for grammar.

The research is based on EX 13-6 from the textbook.

Please go to the Internet and obtain the nancial report for the most recent year available of the following two (a public and a private) universities:

1. University of North Carolina at Chapel Hill

2. Duke University

Analyze the nancial reporting differences between these two universities based on the following:

Balance Sheet (the equity section)

b. Statement of Activities and Statement of Revenues, Expenses, and Changes in Net Position. What are the major differences in the items reported on these two

statements?

c. Statement of Cash Flows

Respond to the questions below:

What standards does each University follow and why? Be specific and note the GASB and FASB No.

UNC

Duke

Now, compare and contrast the Statement of Net Position and Consolidated Balance Sheet. You should note 2 to 3 meaningful differences.

1.

2.

3.

Next, compare and contrast the Statement of Activities and Statement of Revenues, Expenses and Changes in Net Position. You should note 2 to 3 meaningful differences.

1.

2.

3.

Contrast the differences in the non-operating activities. What causes this significant difference?

Both universities prepare a Statement of Cash Flows.

What method does UNC follow and what is the specific GASB Statement number?

What method does Duke follow and what is the specific FASB Statement number?