300 word answer

please read the full instruction below and write a 300 word answer to #3 only -> Explain the impact if your not-for-profit confers excess economic benefits on disqualified persons.

No plagiarism, No overdue, No grammar error.

Instruction –

Analyze the financial statements and audit report of a not-for-profit organization, Girl Scour, readily and publically available on an active website.

Create a 700- to 1,050-word overview of one not-for-profit organization in an area of interest to your team and review the financial statements and audit report for the organization.

Address the following:

#1. Evaluate how the selected not-for-profit’s financial statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations.

#2. Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions. How should they be recorded and subsequently reported in the financial statements.

#3. Explain the impact if your not-for-profit confers excess economic benefits on disqualified persons.