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Qb Test

ACCOUNTING II
CLASS PROJECT
GOVERNMENTAL, NON-FOR-PROFIT AND BUDGET
AUGUST 5th, 2008

1. All the cash seems to go to the Teton Valley Health Care Foundation (the Foundation) and all the liabilities to the Teton Valley Hospital (TVH).
2. We discovered that only TVH was being audit but financial information of the Foundation was also included.
3. The TVA is a governmental health care organization.
4. The Foundation is an IRS 501 (c) (3) non-profit organization.
5. The audited balance sheet was dated September 30, 2007 and it appears that the Foundation’s financial information was also as of that date.
6. The figures in the supposed 2009 budget do not appear to be correct.
7. Concerning the audited figures of TVH of September 30, 2007:
a) The bank is over drafted;
b) 23% of its accounts receivable are non-collectable;
c) Deferred Debt Expense – we did not know the meaning of “revenue certificates of participation debt” and we could not find any......


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Approximate Word Count: 548
Approximate Pages: 3 (250 words per double-spaced page)

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