6 OTHER FINANCIAL STATEMENT ISSUES
COMPARATIVE FINANCIAL INFORMATION
PRESENTING FUND AND NET ASSET INFORMATION
A Complicated Set of Class Financial Statements
Overall impression of complexity
Unrestricted investment income
Comparison with last year's figures
Statement of financial position
Statement of changes in individual funds
Restricted income from endowments
Revenue and Expense Recognition
Unrelated Business Income Taxes
Discontinued Operations and Extraordinary Items
This chapter is divided into separate sections that address issues often considered by not-for-profit organizations in presenting financial statements in accordance with generally accepted accounting principles.
COMPARATIVE FINANCIAL INFORMATION
PERSPECTIVE AND ISSUES
Although they are not required, comparative financial statements increase the usefulness of the financial information presented to the reader. Financial statement presentations are enhanced if they present financial statements for at least two years. Financial statement readers, including donors, boards of directors, ...
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