Here is the financial statement for Utah symphony below Government Accounting Delivery length XXXXXXXXXXwords plus charts For this assignment you will analyze the Utah Symphony for the years ended...

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Here is the financial statement for Utah symphony below Government Accounting Delivery length 500-600 words plus charts For this assignment you will analyze the Utah Symphony for the years ended August 31, 2008 and 2007 Given the metrics your accountant told you are evaluated in nonprofits, you asked her to educate you on how to assess the health of a nonprofit.


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Here is the financial statement for Utah symphony below Government Accounting Delivery length 500-600 words plus charts For this assignment you will analyze the Utah Symphony for the years ended August 31, 2008 and 2007 Given the metrics your accountant told you are evaluated in nonprofits, you asked her to educate you on how to assess the health of a nonprofit. You asked her the following: In a report of 500–600 words, comment specifically on the following: What is the major source of the change in net assets that occurred in 2007 from the change that occurred in 2008? In your opinion, is this trend likely to continue? Why/why not? If we assume that program expenses of the symphony should generally vary with ticket revenues, do they vary between 2007 and 2008? What could your answer indicate may be happening? Is investment income a significant part of total sources of revenue in 2007 or 2008? Does this indicate a major concern about the reduction in the fair market value of investments between 2007 and 2009? Based on your analysis above and any other analyses, comment on the future economic viability of this organization. Please provide all references



Answered Same DayDec 23, 2021

Answer To: Here is the financial statement for Utah symphony below Government Accounting Delivery length...

David answered on Dec 23 2021
125 Votes
Sources of change in Net Assets
The change in net assets for the year ended August 31, 2007 was $1,951,168. The net a
ssets at
the beginning of the year were $43,989,424 and at the end of the year was $45,940,592. This
means that net assets increased by $1,951,168 during the financial year ended on August 31,
2007. The change in net assets for the year ended August 31, 2008 was ($6,651,253). The net
assets at the beginning of the year were $45,940,592 and at the end of the year was $39,289,339.
This means that net assets decreased by $6,651,253 during the financial year ended on August
31, 2008. During 2007, the net assets increased due to the increase of board designated and
permanently restricted net assets. During 2008 the net assets decreased due to the decrease in
total unrestricted, temporarily restricted and permanently restricted net assets. This trend is not
likely to continue because this was because of some major support received by the company
from other sources.
Program Expenses
Program Expenses actually differs with the revenue from tickets. The reason behind this is
that if the ticket prices are being increased, the sponsors and the...
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