Answered step by step
Verified Expert Solution
Question
1 Approved Answer
sure you have annual reports for a private Not - for - profit college / university and a public Not for Profit college / university
sure you have annual reports for a private Notforprofit collegeuniversity and a public Not for Profit collegeuniversity
Name of Public University University of California,
Name of Private University Harvard University.
Part ANSWER Public ANSWER Private
a
b
c
d
Part Question
a Examine the two activity statements revenues and expenses What are the titles of these statements? Do they display income from operations? What items are reported as nonoperating? Which has financial aid grants as part of nonoperating revenue? Which entity has state appropriations?
b Examine the two balance sheets. Are the statements in classified format? What are the titles of these statements? Examine the residual equity accounts and list the net positionnet asset categories of each.
c Examine the statements of cash flow. What are the major sections of each? What method is used for each to present cash flows from operating activities direct or indirect Where are additions to plant and equipment reported for each? Where is cash received from investments reported?
d Identify differences between the public university and private university financial statements. For each difference, provide your opinion on why there is a difference and also which statement you believe presents the information more clearly.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started