(Answered) Question analyze the financial statements and audit report

Accounting

Question: Analyze the financial statements and audit report of a not-for-profit organization readily and publically available on an active website.

Create a 700- to 1,050-word overview of one not-for-profit organization in an area of interest to your team and review the financial statements and audit report for the organization.

Address the following:

• Evaluate how the selected not-for-profit's financial statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations.

• Compare the organization's reporting of pledges and contributions to its reporting of exchange transactions.(Mari)

• How should they be recorded and subsequently reported in the financial statements. (Mari)

• Explain the impact if your not-for-profit confers excess economic benefits on disqualified persons.

References: 1. See annual report of Habitat for Humanity International, Inc. Annual Report FY2017

2. Consolidated Financial Statements and Report of Independent Certified Public Accountants - Habitat for Humanity International, Inc. (Years ended June 30, 2017 and 2016).

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