Pledges receivable Allowance for uncollectible pledges Contribution revenueĬash Fund raising expense Fund raising revenue Therefore, the amount that should be included in current funds revenue is: Unrestricted gifts received: Expended Not expended Restricted gifts received Expended Total Current funds revenues include (1) all unrestricted gifts and other unrestricted resources earned during the reporting period, and (2) restricted current funds to the extent that such funds were expended for current operating purpose. Expirations of donor restrictions on temporarily restricted net assets should be reported on the Statement of operations as net assets released from restrictions. The other cash receipts would be reported as increases in cash flows provided by financing activities.
Cash received from patient revenue (collection of receivables) and from tuition revenue are both included in the amount reported for cash flows from operating activities. Cash flows from operating activities would include both the cash received from patient service Revenue of P300,000 and the cash received from gift shop sales of P25,000. Both are treated as a financing activity on the statement of cash flows. (P5,000,000 + P50,000) The P1,000,000 contribution from the donor, who stipulated that the contribution be invested Indefinitely, should be reported as permanently restricted revenue. The net effect on unrestricted net assets of spending P10,000 on research is zero. The contributed services are debited to Salary Expense account and credited to Contribution Revenue account. Patient revenues (net of charity care) Less: contractual adjustments Net patient service revenuesĢ2-12: c. As of July 31, 2004, all of the funds are properly includible in the Plan Funds, for a total of P900,000.Ģ2-10: d. Patient revenues Nursing services Professional services Total revenues Less: Staff discounts Allowances Third party payors Net revenues Unregistered pledges from donors are treated as revenues at the time of the pledge.ĭ. The remaining contribution of P5,000 on December 31, 2004.ī.
Unrestricted cash contribution received from donors are to be reported as increase in net cash provided by operation.ĭ. The total tuition fees for educational and general purposes.
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