Describe in your own terms what the main difference between “Equity” and “Net Assets” means for a NFP.

by | Jul 14, 2021 | Uncategorized | 0 comments

Respond to the discussion prompts and questions by the due dates outlined in the assignment.
Post your Initial Responses in the Participation Discussion Forum. There is some preliminary guidance given in the Week 1 PowerPoints and Lectures. Remember, 20 points are based on your preliminary responses, and 20 points based on your replies to at least 2 of your colleagues.
All of the following “Topics” must be included in your initial response. Appropriate graduate level work is expected. And, you MUST support all analysis using proper APA citation and reference formatting.
For Participation Topic # 1 – Describe in your own terms what the main difference between “Equity” and “Net Assets” means for a NFP.
For participation Topic # 2 – Briefly describe “Private Inurement” in your own words.
For Participation Topic # 3 – Can you describe a situation in your own organization or another that may be related to undue private inurement? (For additional learning opportunities, here is a specific journal article and reference:
Kirkland, S. D. (2013, September 1). Preventing a challenge to (un)reasonable compensation: CPAs can help clients stave off IRS scrutiny with a little foresight. Journal of Accountancy, retrieved from http://www.journalofaccountancy.com/issues/2013/sep/20137412.html
Click or copy and paste into your browser to view the article ==> http://www.journalofaccountancy.com/issues/2013/sep/20137412.html
For Participation Topic # 4 – What are the basic “Financial Statements” normally required by GAAP?
For Participation Topic # 5 – Discuss any aspect of the Week 01 & Week 02 lectures that may be difficult to understand or needs clarification. And, did you learn anything of interest that you might be able to apply in your job?
EVERYTHING HAS TO BE BACKED UP WITH SOURCES! THIS PROFESSOR IS A STICKLER. THANKS IN ADVANCE!

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