What is the financial reporting requirements or standards used by NFPOs?

PSU Financial Reporting in Nonprofit Organizations Questions

Penn state university

Question Description

 

1. What is the financial reporting requirements or standards used by NFPOs?

2. Describe the fund accounting used in NFPOs.

3. What is the implication of using fund accounting in NFPOs.

i would like each question to be answered with 100 words, please.

NFPO: not for profit organizations.

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