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Identify the authoritative standards-setting body for establishing GAAP for nongovernmental NFPs.

  1. You have learned about NFP ( Not-for-Profit Accounting) entities and the requirements for their financial reporting.  Consider discussing the differences between the public sector and NFPs.
  2. Choose a NFP (Not-for-Profit Accounting) and review a segment of their financial report.
  3. Identify the authoritative standards-setting body for establishing GAAP for nongovernmental NFPs.
  4. Discussion of NFP and their tax implications.  Discuss the different types of tax-exempt organizations.
  5. In Not for profit accounting and their tax implications, discuss the differences between public charities and private foundations.
  6. Identify how benchmarks and performance measures can be used to evaluate NFPs.

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