Reference no: EM132595817

Question 1: Analyze the differences between generally accepted accounting principles for public and private colleges and universities.

Question 2: Explain why it is important to identify whether the institution is Public or Private.

Question 3: Clarify which of the two-public or private-follow the same reporting guidelines as nongovernmental not-for-profit organizations.

Question 4: Analyze, in general terms, the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.

Question 5: Identify the major format differences in financial reporting for public and private colleges and universities.

Question 6: Formulate an opinion about which statement provides more transparent information regarding revenues and on the amounts of restricted resources.