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How should a private school account scholarships?

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How should a private school...
How should a private school account for outside scholarships? Is it part of tuition revenue?
The consolidated statement i am looking at has a line "less financial aid and scholarships"
This is an audited financial so I assume there is a definition for this line.
Submitted: 3 years ago.Category: Tax
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Answered in 2 minutes by:
6/8/2015
Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 years ago
Robin D.
Robin D., Senior Tax Advisor 4
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Hello and thanks for trusting me to help you today. I am a tax adviser with over 20 years of experience.
A scholarship would pay for tuition of the student. Most scholarships now pay the amount directly to the school and that is still revenue to the school.
It would not be any different than the student paying for the tuition. It is still income to the school.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 years ago
Please advise what other information you require about the scholarships.
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