THE FINANCIAL ACCOUNTING STANDARDS BOARD AND TODAY'S MUSEUMS: BRIDGING THE GAP
Loading...
Authors
Roche, Lynnette E.
Issue Date
1995
Type
Capstone
Language
en
Keywords
1. Final Project (Museums Studies) 2. Museums--Accounting. 3. Museums--Finance.
Alternative Title
Abstract
The initial purpose of this master's project was to design a simple checklist that could be used by medium-sized museums to determine the accuracy and efficiency of their present external financial reporting methods. For the purpose of this project, external financial reports were financial statements that explained the financial position or operations of the museum that are viewed by decision-makers outside the institution. The incorporation of regulations set forth by the Financial Accounting Standards Board and current museum practices were integrated into the text. The end product was a booklet that provides actual guidelines for accurate, efficient, and effective external financial reports for medium-sized museums. These reports include the statement of financial position (balance sheet), the statement of activities (income statement), and the statement of cash flows.