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What are the issues related to reporting operating income Consider

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What are the issues related to reporting operating income?
Consider: Contributions and bequests, Gifts, Investment
gains and losses, Change in value of split interest
agreements, Tuition revenue, and Scholarships.
Why might different types of educational institutions report
operating income differently?
Which accounting standards apply to educational
institutions? Consider: FASB requirements, GASB
requirements, and NACUBO guidelines.
Solution
Since the primary motive is not to earn profit but to fulfil
some social cause, hence the challenge is that there is no
operating income rather there is either surplus or deficit.
The another challenge is the inconsistent contributions
since the gifts etc are voluntary and hence non-continuing
at times.
Different NPOs show differently cause the primary source
of their contributions differ & even the purpose of their
existence also varies.Please consider the time devoted to
make this reply by rating this answer as 5star. Thank u in
advance. God bless u :)

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What are the issues related to reporting operating income? Consider: Contributions and bequests, Gifts, Investment gains and losses, Change in value of split interest agreements, Tuition revenue, and Scholarships. Why might different types of educational institutions report operating income differently? Which accounting standards apply to educational institutions? Consider: FASB requirements, GASB requirements, and NACUBO guidelines. Solution Since the primary motive is not to earn profit but to fulfil some social cause, hence the challenge is that there is no operating income rather there i ...
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Awesome! Perfect study aid.

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