Reporting Memo

Memorandum From:John Smith, CPA To:Jessica Miller, Senior Partner win:Reporting Requirements Date: zero(prenominal)ember 28, 2011 As you know, our unfaltering is currently dictation on deuce projects: the eldest is engagement and examination drub for a sm tout ensemble county hospital. The act is lock for a private not-for-profit treat home. This memoranda is compose to bear you with the information related to the subject matter and facilitate our firm in moving forward with the bidding process. The memo starts with a review of reporting requirements for private sector, not-for-profit nursing homes to a cut down place Financial explanation Standards Board (FASB) guidance and and so turns to a discussion of similarities and differences in accountancy and reporting practices betwixt the two prospective clients. Reporting Requirements The FASB has primary standards - setting chest of drawers for all private not-for-profit health ca re organizations, including the private sector, not-for-profit nursing homes. As Copley and Engstrom (2011) noted, several standards are issued specifically for not-for-profits, most notably, SFAS No. 116, score for Contributions Received and Contributions Made, SFAS No. 117, Financial Statements of Not-for-Profit Organizations, and SFAS No.

124, Accounting for Certain Investments Held by Not-for-Profit Organizations. The American Institute of Certified universal Accountants (AICPAs) audit and accounting guide, Health Care Organizations, incorporates the requirements of these descriptions and provides some special guidance on compliance. Both the FAS! B and AICPA pronouncements establish superiority of the accretion method of accounting. The fiscal assertions of private sector not-for-profit nursing homes should entangle the following: statement of financial position (or balance pall), statement of activities (or operations), statement of exchange flows, and statement of changes in net assets. mesh assets of the balance sheet are required to be...If you want to take a crap a replete essay, order it on our website: BestEssayCheap.com

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