Thank you so much
Running head: Nonprofit Organization
Arkansas nonprofit alliance (ANA) is a state association situated in Arkansas of nonprofit
organizations & it is also the representative of Arkansas State to the National council of Nonprofits.
The members to this association include businesses, nonprofits as well as all individuals who are
committed to excellence in the state’s nonprofit sector.
In relation to the compliance of the organization’s financial statements to the Financial
Accounting Standards Board (FASB) guidance in Statement No. 117, which require all nonprofit
organizations to provide a financial position statement a statement of cash flows as well as a
statement of activities, ANA’s financial statement conformed with this standards. This is so since
the organization’s financial statement not only shows the current assets but it also shows the
organization’s liabilities as well as net assets as required by the FASB guidance. Additionally,
compliance is evident in the way the organization reports changes in the organization’s assets as
well as is revenues & expenses. The change in net assets has been reported by the organization by
identifying unrestricted as well as temporarily restricted assets. (FASB, 1993). The two areas of
potential interest to stakeholders in relation to the status of the organizations revenue is the
members ship fees as well as the program service fee. This is so since the organization can be able
to raise more revenue by raising its member ship fees as well as program service fee since, despite
being an association that encompasses other several other businesses, nonprofits as well as all
individuals who are committed to excellence in the state’s nonprofit sector. Additionally, the area
of potential interest to stakeholders in relation to the status of the organizations expense...