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        <MethodOfValuation>F</MethodOfValuation>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE ORGANIZATION'S EXECUTIVE DIRECTOR REVIEWS AND APPROVES FORM 990 PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>PRIOR TO EACH MEETING, LEGAL COUNSEL FOR ACPE REVIEWS THE CONFLICT STATEMENT WITH THE BOARD OF DIRECTORS AND REPORTS ON LEGAL DEVELOPMENTS IN THE CONFLICT AREA (STATE AND FEDERAL) SUCH AS COURT DECISIONS AND DEPARTMENT OF EDUCATION REGULATIONS AND POLICIES. IN ADDITION, AT EVERY MEETING OF THE BOARD OF DIRECTORS, THE CHAIRMAN, PRIOR TO ANY DISCUSSION ASKS FOR CONFLICTS AS EACH MATTER INVOLVING ACCREDITATION OR APPROVAL OF A CONTINUING PHARMACY EDUCATION PROVIDER COMES UP ON THE AGENDA. A CONFLICTED BOARD MEMBER GENERALLY LEAVES THE MEETING UNTIL AFTER THE MATTER IS DISCUSSED AND VOTED UPON. CONFLICTS ARE REFLECTED IN THE MINUTES OF EACH MEETING. IN ADDITION ACPE REQUIRES ALL PARTIES TO SIGN A CONFLICT OF INTEREST FORM AT THE BEGINNING OF EACH YEAR</Explanation>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15A</ReturnReference>
        <Explanation>THE EXECUTIVE COMMITTEE REVIEWS THE STATUS OF THE EXECUTIVE DIRECTOR BASED ON STANDARDS SUCH AS LEADERSHIP, PREPARATION FOR THE BOARD OF DIRECTORS MEETINGS, ADMINISTRATIVE ABILITIES, STAFF INTERVIEWS, DEPENDABILITY, INNOVATIVENESS, CRITIQUES, IF ANY, FROM COLLEGES AND SCHOOLS OF PHARMACY OR OTHER THIRD PARTIES, AND SALARIES OF PERSONS IN COMPARABLE POSITIONS. BASED UPON ITS FINDINGS, THE EXECUTIVE COMMITTE MAKES A SALARY RECOMMENDATION TO THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER FEES</Identifier>
        <ReturnReference>FORM 990, PART IX, LINE 11G</ReturnReference>
        <Explanation>CONSULTING: PROGRAM SERVICE EXPENSES 623,720. MANAGEMENT AND GENERAL EXPENSES 32,827. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 656,547.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 9:</ReturnReference>
        <Explanation>SWITCHING FROM ACCRUAL TO MODIFIED CASH BASIS 845,976.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART XI, LINE 1</ReturnReference>
        <Explanation>THE ORGANIZATION CHANGED ITS ACCOUNTING METHOD DURING THE YEAR FROM ACCRUAL BASIS TO MODIFIED CASH BASIS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990 PART XII, LINE 2C</ReturnReference>
        <Explanation>THE OVERSIGHT PROCESS HAS NOT CHANGED DURING THE YEAR.</Explanation>
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