Business Assignment- Fund Accounting
Question:
"Fund Accounting" Please respond to the following:
1) From the first e-Activity, differentiate between accounting for restricted funds in nonprofits and governments. Examine some of the possible reasons GASB issued statement 54 clarifying the reporting and classification of funds for governmental accounting.
2) From the second e-Activity, FASB 117 provides the guidelines for reporting for nonprofits. Assess if FASB 117 establishes the same guidelines as GASB 54. Support your position.
Additional Requirements
Min Pages: 1
Level of Detail: Only answer needed
Other Requirements: Maximum word count for each question: approximately 200 words
*For 1st question, please use the following to answer:
Go to the GASB Website to read the article titled “GASB Statement Brings Greater Clarity and Consistency to Fund Balance Reporting,” dated March 2009, located athttp://www.gasb.org/cs/ContentServer?c=Document_C&pagename=GASB%2FDocument_C%2FGASBDocumentPage&cid=1175804844293. Be prepared to discuss.
**For question # 2, please use the following to answer:
Go to the Nonprofits Assistants Fund Website to read the article titled “Managing Restricted Funds,” located athttp://www.nonprofitsassistancefund.org/clientuploads/MNAF/ArticlesPublications/Managing_Restricted_Funds.pdf. Be prepared to discuss.
USA 
India