Not for Profit Financial Review, accounting homework help

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Not for Profit Financial Review

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 Select one (1) not-for-profit organization in an area of interest to you and review the financial statements and audit report for the organization. The financial statements and audit report of the not-forprofit organization should be readily and publically available on an active Website. Write a three to five (3-5) page paper in which you: 1. Analyze the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Notfor-Profit Organizations (FASB ASC 958-205-45). Explain the selected organization’s use of the three (3) fund categories. Recommend at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. 2. Analyze the organization’s statement of cash flows. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. 3. Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Discuss the funds that are utilized. 4. Assess the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis. Unacceptable ACC410-A21 1. Analyze the selected not-forprofit’s financial statements to determine if the statements conform to Financial Meets Minimum Fair Expectations Proficient Exemplary Points: Points: Points: Points: Points: Points Range: 0 (0%) - 35.4 (14.75%) Points Range: 36 (15%) - 41.4 (17.25%) Points Range: 42 (17.5%) 47.4 (19.75%) Points Range: 48 (20%) - 53.4 (22.25%) Points Range: 54 (22.5%) - 60 (25%) Did not submit or incompletel y analyzed the selected not-for- Insufficientl y analyzed the selected not-forprofit’s financial Satisfactoril y analyzed the selected not-forprofit’s financial Thoroughly analyzed the selected not-forprofit’s financial Partially analyzed the selected not-forprofit’s Unacceptable Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organizatio ns (FASB ASC 958205-45). Explain the selected organizatio n’s use of the three (3) fund categories. Recommen d at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organizatio ns (FASB ASC 958205-45). Did not submit or incompletel y explained the selected organization ’s use of the three (3) fund categories. Did not submit or incompletel y Meets Minimum Fair Expectations statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organization s (FASB ASC 958-20545). Insufficientl y explained the selected organization ’s use of the three (3) fund categories. Insufficientl y recommend ed at least two (2) areas of potential interest to financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organization s (FASB ASC 958-20545). Partially explained the selected organization ’s use of the three (3) fund categories. Partially recommend ed at least two (2) areas of potential interest to the Proficient statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organization s (FASB ASC 958-20545). Satisfactoril y explained the selected organization ’s use of the three (3) fund categories. Satisfactoril y recommend ed at least two (2) areas of potential interest to Exemplary statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-forProfit Organization s (FASB ASC 958-20545). Thoroughly explained the selected organization ’s use of the three (3) fund categories. Thoroughly recommend ed at least two (2) areas of potential interest to the Unacceptable recommend ed at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Meets Minimum Fair Expectations the stakeholder concerning the status of revenue and expenses. stakeholder concerning the status of revenue and expenses. Feedback: Feedback: Proficient the stakeholder concerning the status of revenue and expenses. Exemplary stakeholder concerning the status of revenue and expenses. Feedback: Feedback: Feedback: ACC410-A22 2. Analyze the organizatio n’s statement of cash flows. Explain the format that the organizatio n utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Points: Points: Points: Points: Points: Points Range: 0 (0%) - 28.32 (11.8%) Points Range: 28.8 (12%) 33.12 (13.8%) Points Range: 33.6 (14%) 37.92 (15.8%) Points Range: 38.4 (16%) 42.72 (17.8%) Points Range: 43.2 (18%) - 48 (20%) Did not submit or incompletel y analyzed the organization ’s statement of cash flows. Did not submit or incompletel y explained the format that the Insufficientl y analyzed the organization ’s statement of cash flows. Insufficientl y explained the format that the organization utilizes, including Partially analyzed the organization ’s statement of cash flows. Partially explained the format that the organization utilizes, including any unique Satisfactoril y analyzed the organization ’s statement of cash flows. Satisfactoril y explained the format that the organization utilizes, including Thoroughly analyzed the organization ’s statement of cash flows. Thoroughly explained the format that the organization utilizes, including any unique areas of Unacceptable organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Meets Minimum Fair Expectations any unique areas of emphasis that differ from-GAAP accounting format. areas of emphasis that differ from-GAAP accounting format. Feedback: Feedback: Proficient any unique areas of emphasis that differ from-GAAP accounting format. Exemplary emphasis that differ from-GAAP accounting format. Feedback: Feedback: Feedback: ACC410-A23 3. Compare the organizatio n’s reporting of pledges and contributio ns to its reporting of exchange transaction s. Discuss the funds that are utilized. Points: Points: Points: Points: Points Range: 0 (0%) - 28.32 (11.8%) Points Range: 28.8 (12%) 33.12 (13.8%) Points Range: 33.6 (14%) 37.92 (15.8%) Points Range: 38.4 (16%) 42.72 (17.8%) Insufficientl y compared the organization ’s reporting of pledges and contribution s to its reporting of exchange transactions . Insufficientl y discussed the funds Partially compared the organization ’s reporting of pledges and contribution s to its reporting of exchange transactions . Partially discussed the funds that are Satisfactoril y compared the organization ’s reporting of pledges and contribution s to its reporting of exchange transactions . Satisfactoril y discussed the funds Did not submit or incompletel y compared the organization ’s reporting of pledges and contribution s to its reporting of exchange transactions . Did not submit or incompletel Points: Points Range: 43.2 (18%) - 48 (20%) Thoroughly compared the organization ’s reporting of pledges and contribution s to its reporting of exchange transactions . Thoroughly discussed the funds that are Unacceptable y discussed the funds that are utilized. Meets Minimum Fair Expectations that are utilized. utilized. Feedback: Feedback: Proficient Exemplary that are utilized. utilized. Feedback: Feedback: Feedback: ACC410-A24 4. Assess the fiscal condition of the selected organizatio n utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. This assessment should also be expanded to include fund-raising analysis, program review, contributio Points: Points: Points: Points: Points: Points Range: 0 (0%) - 35.4 (14.75%) Points Range: 36 (15%) - 41.4 (17.25%) Points Range: 42 (17.5%) 47.4 (19.75%) Points Range: 48 (20%) - 53.4 (22.25%) Points Range: 54 (22.5%) - 60 (25%) Did not submit or incompletel y assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Did not submit or incompletel Insufficientl y assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Insufficientl y expanded to include fund-raising analysis, Satisfactoril y assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Satisfactoril y expanded to include fund-raising analysis, Thoroughly assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Thoroughly expanded to include fund-raising analysis, Partially assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Partially expanded to include fund-raising Unacceptable ns, and grant analysis and revenue analysis. y expanded to include fund-raising analysis, program review, contribution s, and grant analysis and revenue analysis. Meets Minimum Fair Expectations program review, contribution s, and grant analysis and revenue analysis. Feedback: analysis, program review, contribution s, and grant analysis and revenue analysis. Proficient Exemplary program review, contribution s, and grant analysis and revenue analysis. program review, contribution s, and grant analysis and revenue analysis. Feedback: Feedback: Feedback: Feedback: Points: ACC410-A25 5. Clarity, writing mechanics, and formatting requiremen ts Points Range: 0 (0%) - 14.16 (5.9%) More than 8 errors present Feedback:    Points: Points: Points: Points: Points Range: 14.4 (6%) - 16.56 (6.9%) Points Range: 16.8 (7%) - 18.96 (7.9%) Points Range: 19.2 (8%) - 21.36 (8.9%) Points Range: 21.6 (9%) - 24 (10%) 7-8 errors present 5-6 errors present 3-4 errors present 0-2 errors present Feedback: Feedback: Feedback: Feedback: Show Descriptions Show Feedback ACC410-A2-1 1. Analyze the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Explain the selected organization’s use of the three (3) fund categories. Recommend at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses.-Levels of Achievement:             Unacceptable 0 (0%) - 35.4 (14.75%) Did not submit or incompletely analyzed the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Did not submit or incompletely explained the selected organization’s use of the three (3) fund categories. Did not submit or incompletely recommended at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Meets Minimum Expectations 36 (15%) - 41.4 (17.25%) Insufficiently analyzed the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Insufficiently explained the selected organization’s use of the three (3) fund categories. Insufficiently recommended at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Fair 42 (17.5%) - 47.4 (19.75%) Partially analyzed the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Partially explained the selected organization’s use of the three (3) fund categories. Partially recommended at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Proficient 48 (20%) - 53.4 (22.25%) Satisfactorily analyzed the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Satisfactorily explained the selected organization’s use of the three (3) fund categories. Satisfactorily recommended at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Exemplary 54 (22.5%) - 60 (25%) Thoroughly analyzed the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Thoroughly explained the selected organization’s use of the three (3) fund categories. Thoroughly recommended at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses. Feedback: ACC410-A2-2 2. Analyze the organization’s statement of cash flows. Explain the format that the                     organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format.-Levels of Achievement: Unacceptable 0 (0%) - 28.32 (11.8%) Did not submit or incompletely analyzed the organization’s statement of cash flows. Did not submit or incompletely explained the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Meets Minimum Expectations 28.8 (12%) - 33.12 (13.8%) Insufficiently analyzed the organization’s statement of cash flows. Insufficiently explained the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Fair 33.6 (14%) - 37.92 (15.8%) Partially analyzed the organization’s statement of cash flows. Partially explained the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Proficient 38.4 (16%) - 42.72 (17.8%) Satisfactorily analyzed the organization’s statement of cash flows. Satisfactorily explained the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Exemplary 43.2 (18%) - 48 (20%) Thoroughly analyzed the organization’s statement of cash flows. Thoroughly explained the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format. Feedback: ACC410-A2-3 3. Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Discuss the funds that are utilized.-Levels of Achievement: Unacceptable 0 (0%) - 28.32 (11.8%) Did not submit or incompletely compared the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Did not submit or incompletely discussed the funds that are utilized. Meets Minimum Expectations 28.8 (12%) - 33.12 (13.8%) Insufficiently compared the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Insufficiently discussed the funds that are utilized. Fair 33.6 (14%) - 37.92 (15.8%) Partially compared the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Partially discussed the funds that are utilized.                   Proficient 38.4 (16%) - 42.72 (17.8%) Satisfactorily compared the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Satisfactorily discussed the funds that are utilized. Exemplary 43.2 (18%) - 48 (20%) Thoroughly compared the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Thoroughly discussed the funds that are utilized. Feedback: ACC410-A2-4 4. Assess the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis.-Levels of Achievement: Unacceptable 0 (0%) - 35.4 (14.75%) Did not submit or incompletely assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Did not submit or incompletely expanded to include fundraising analysis, program review, contributions, and grant analysis and revenue analysis. Meets Minimum Expectations 36 (15%) - 41.4 (17.25%) Insufficiently assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Insufficiently expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis. Fair 42 (17.5%) - 47.4 (19.75%) Partially assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Partially expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis. Proficient 48 (20%) - 53.4 (22.25%) Satisfactorily assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Satisfactorily expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis. Exemplary 54 (22.5%) - 60 (25%) Thoroughly assessed the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. Thoroughly expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis. Feedback:               ACC410-A2-5 5. Clarity, writing mechanics, and formatting requirements-Levels of Achievement: Unacceptable 0 (0%) - 14.16 (5.9%) More than 8 errors present Meets Minimum Expectations 14.4 (6%) - 16.56 (6.9%) 7-8 errors present Fair 16.8 (7%) - 18.96 (7.9%) 5-6 errors present Proficient 19.2 (8%) - 21.36 (8.9%) 3-4 errors present Exemplary 21.6 (9%) - 24 (10%) 0-2 errors present Feedback: Name:Week 9 Assignment 2: Non-for-Profit Financial Reporting Review
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Explanation & Answer

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RUNNING HEAD: AMERICAN RED CROSS

American Red Cross
Student Name
Course ID
Date

RUNNING HEAD: AMERICAN RED CROSS

There are several non-profit organizations that are running in the United States of
America. Non-profit organizations are working for the welfare of the people living in a particular
country and they are not concerned with profit. They further process their surplus revenues to
further achieve its purpose and mission. If we think about its legal structure, non-profit
organizations are exempt from income tax and holds charitable status. Mutual societies, trade
unions, industry associations, sports club, and credit unions are providing services in a particular
country in order to provide benefit to a particular group of people. For this task I have chosen
American Red Cross (ARC) which is involved in providing disaster relief. It is an organization
which provides disaster relief, emergency assistance, and education facility within the United
States of America. Despite of these services, American Red Cross also provides other services
such as comfort and communication facilities to military members and their family, collects,
process and distributes blood and related products and also involved in development and relief
programs. Almost 36 blood services regions working for saving lives of people along with
500,000 volunteers and 30,000 employees who helps the affected people.
1. The purpose of conforming financial statements of non-profit organization with Financial
Accounting Standard Board i...


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