Question
True/False question 5. In non-for-profit organizational statement of cash flow, (1) without, operating, and time restriction (short-term) items are reported in CFO, (2) PPE, endowment,
True/False question
5. In non-for-profit organizational statement of cash flow, (1) without, operating, and time restriction (short-term) items are reported in CFO, (2) PPE, endowment, time restriction (long-term) items are reported in CFF.
6. An unconditional promise to give (pledge) have to be reported in with donor restriction column regardless of collection timing (ex. collection of current year vs. collection of next year). If cash is collected, journal entries are as follows : Cash Contribution receivable Contribution_with Contribution_without
7. In statement of activity of private NFPO, if with donor restriction item is reclassified into without donor restriction, corresponding disclosure to notes is required.
8. Contribution is an unconditional transfer of cash or other assets to an entity or a settlement or cancellation of its liabilities in a voluntary non-reciprocal transfer by another entity acting other than as an owner.
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