Problem 1: Matching an organization with the appropriate accounting standards

Assume you are the director of financial reporting for each of the entities listed below. Type an X in the appropriate column to indicate which accounting standards you would use to prepare each entitys financial statements.

FASB Standards				GASB Standards
Entity	Public for Profit	Private for profit	Private nonprofit	Government
Lahey Hospital and Medical Center
Grady Memorial Hospital
Kindred Health care
Encompass Health Corporation
Miami International University of Art & Design
University of Wisconsin Foundation--Madison
Southern New Hamshire University
Augusta National Golf Club
Chicago Gulf Club
John Jay College of Criminal Justice
Navy Federal Credit Union
Chegg, Inc.
National Collegiate Athletic Association