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Chapter 10
important topics
5
Finance
Graduate
04/02/2006

Additional Finance Flashcards

 


 

Cards

Term
Not for profit organizations (3 describing factors)
Definition
1) RECEIVES CONTRIbutions from providers who do not expect an equal return
2) goals other than providing goods and svcs for profit
3) absence of ownership interest.
Term
statement of functional expenses
Definition
All NPs have to provide:
balance sheet (statement of financial position)
operating/income statement (statement of activities)
statement of cash flows--VWHOs also have to submit statement of FE (detailed statement reporting expenses by functional class, e.g. major groupings of program svcs and supporting svcs) and by nature (e.g. salaries, rent, or gas) in a matrix format.
Term
Loan between funds recording
Definition
operating fund borrows $100 from building fund:

operating fund
assets = liabilities + fund bal
Cash due to bldg fund
+$100 +$100

building fund
assets =liab+fundbal
cash due from oper fund no change
-$100 +$100
Term
fund purchases services from another fund (recording)
Definition
hospital sends 10 nurses to its nursing school

nursing school operating fund
assets = liab + fund balance
accounts rec tuition revenue
-$100,000 +$100,000

hospital operating fund
assets = liabilities + fund balance
no change Accts payable tuition exp
+$100,000 - +$100,000
Term
transfer between funds as a permanent movement of resources from one to the other, reasons then how it looks
Definition
reasons: mgmt says to do it, transfer is mandatory, legal requirements

if town transfers ten grand fromeneral unrest fund to debt service fund:

general fund
assets = liab + fund balance
cash transf to debtsvcfund
-$10,0000 +$10,000

debt service fund
assets = liab + fund balance
cash trans from operfund
+$10,000 +$10,000
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