Not For Profit Accounting (Colleges & Universities, Basic Accounting For Different Fund Groups): Not-For-Profit Accounting for Colleges & Universities, Private Vs Public Colleges & Universities have differences In accounting for external purposes but both use similar Accounting for internal purposes (Looking at that), College & University Accounting is similar to other Not-For-Profit Organizations for setting up Donor Restrictions $ Received (External Restrictions), example would be for Grants received & how the $ can be spent, account for Asset resources by setting up Fund Asset Categories, External (Donor) restrictions on how Funding $ should be Spent (Time & Purpose Restrictions), Funds are structured around the Rule for (Restricted $), if Restricted Funding $ is received do not recognize Revenue & Expense until after $ are spent for the intended purpose, review the different Funds including, Current Unrestricted Fund: Unrestricted $, accts. for current assets available to cover current operational costs, no Limitations on how $ are spent on resources received, Current Restricted Fund: Restricted $, accts. for current assets available to cover current operational costs where some Limitations exist on resources received from an external entity (Donor), additionally looking at Types of Endowment Funds, (including gains & losses), Annuity Life income Funds, Etc., detailed accounting by Allen Mursau
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