Recognition of Depreciation by Not-For-Profit Institutions. A NACUBO Mongraph.

Information on depreciation concepts, accounting procedures, and reporting formats in not-for-profit institutions is provided. Details are included on the requirements and implications of the Financial Accounting Standards Board's Statement of Financial Accounting Standards no. 93 (FASB 93). Following highlights of FASB 93, an overview looks at financial reporting required, areas specifically excluded, and areas not addressed by FASB 93; a history of depreciation in not-for-profit institutions; and a rationale for the key provisions of FASB 93. A glossary of general terms and terms associated with long-lived assets is featured. Other information includes: choices of depreciation methods, techniques, and procedures (sample cases and examples specifically related to depreciation of equipment and buildings); a review of major asset groups (buildings, equipment, art collections); and other issues (funding of depreciation and outline of presentations to the board of directors). Four appendices focus on types of buildings and building subsystems; sample financial statements and journal entries; detailed description of depreciation methods, techniques, and procedures; and appraisal and valuation services. Tables and a bibliography are included. (SM)