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    NOVAC nonprofit balance sheet

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    Can someone please provide some assistance with a question. Its for an MBA course. It needs to be between 550 and 650 words. Obtain a balance sheet from a nonprofit organization (refer to the nonprofit you identified for your research paper) and analyze the balance sheet to determine if the organization complies with FASB's SFAS 117 ruling (see Laughlin, pp. 92-97.), discuss your findings and opinion. Hint: The nonprofit should publish an annual report that would include financial information................
    Please see attached for information to better assist me. Thank you so much in advance for all your help.....
    I have messaged you on post 611887 about this post 612707. This post is related to a message I sent on that post 611887 about a nonprofit that I need to choose for my next research paper and you suggested a nonprofit for my research paper........http://www.lla.state.la.us/PublicReports.nsf/B4D716F940185C4A86257BFF00487794/$FILE/000358D8.pdf http://novacvideo.org/about/history-mission.html....... Let me know if you have any question as I know this might sound confusing.....

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    Solution Preview

    I have formulated some ideas here. Each could be expanded on to make some of the issues clearer. Note that this organization did reorganize in 2014 and this information may help better understand the strategy for reorganization as well as the financial picture of the entity.

    The balance sheet or Statement of Financial Position for NOVAC is done correctly. It includes information on the unrestricted net assets and those that are temporarily or permanently restricted. Contributions to each of these is not noted in the balance sheet, nor is it required. As required by law, the nonprofit supplies and annual report to the state of Louisiana each year and has filed their tax return which also includes the Statement of Financial Position. The comparison of both documents shows the information is accurate, one to the other.
    The net assets when added to the liabilities meets the assets and the financial position is balanced. It is interesting on this review that the much different financial picture in 2011 than in 2012, the annual report ...

    Solution Summary

    An opinion on a balance sheet for the named nonprofit entity.