One of the key differences between for profit and nonprofit accounting is the presentation of net assets on the balance sheet. In the nonprofit world, it is not called a balance sheet, but a Statement of Financial Position. [Read more…]
Nonprofit Functional Expenses: Fulfills Reporting Requirements
One of the major differences in financial statement presentation between for profit companies and nonprofit organizations is the presentation of nonprofit functional expenses on the Statement of Activities and Changes to Net Assets. [Read more…]
New FASB Rules Define New Nonprofit Fund Classes
The new FASB rules have re-defined the classification of funds known as net assets, altering the way nonprofits present their financial statements. [Read more…]
Nonprofit Budget Basics: The Key to Financial Health
Your nonprofit budget is the heart and soul of your organization and can serve as a guiding light for financial health. [Read more…]
Nonprofit Accountability: How Charity Watchdogs Impact Donations
How do charity watchdogs influence donations? Without proper controls and accountability, your nonprofit may be forced to shut down. [Read more…]
Why QuickBooks Won’t Work for Fundraising Donor Management
While QuickBooks is a very good accounting program for a for-profit business, it simply was not designed for fundraising and donor management. [Read more…]
Key Difference Between Nonprofits and For Profits and Why It Matters
It all comes down to the measurement of success. Regardless of a for profit’s mission statement, the number one goal is to make money. But, to a nonprofit organization, the answer is not so simple. [Read more…]
Why Quickbooks Does Not Work For Nonprofit Accounting
While you might think that all accounting is the same – debits and credits – there are vast differences between Nonprofit Accounting and Commercial For-Profit Accounting. [Read more…]
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