Crestview Secondary Academy is a private non profit high

school offering #103

Crestview Secondary Academy is a private non-profit high school offering grades 9 to 12. It has
just implemented a laptop program in the school. Every student from Grade 11 and up will
receive a laptop that they will use for their time at the school. The academy will own these
laptops but the student will be able to buy it for $1 at the end of secondary school.The board of
directors is currently discussing the implementation of this program and how to reflect it on the
academy's financial statements. They have agreed that they will need to increase school fees to
pay for the cost of these laptops but do not want to bill it as a separate cost. The director of
finance suggested that the cost be allocated over the years at school. The president of the
board is proposing that the school fees in Grade 11 be increased by the cost of the laptops
since that is the year that the student will actually receive the laptop. The IT director points out
that the students in grades 9 and 10 will still get access to laptops, which are on carts and
brought to the classrooms. She maintains that the laptop program actually begins in Grade 9.
The board members are also interested in ensuring that they have a mechanism to evaluate the
laptop program financially.You have been called to the most recent board of directors meeting
to discuss the accounting and reporting of the laptop program. The members would be
interested in hearing your opinion.RequiredPrepare the report to the board of directors.View
Solution:
Crestview Secondary Academy is a private non profit high school offering

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