In order to understand nonprofit accounting, it is important to know the difference between funds and programs. A true nonprofit accounting system tracks revenue from funds and expenses by programs or functional areas.
[Read more…] about Nonprofit Accounting: Difference Between Funds and ProgramsAccounting for Nonprofits
Nonprofit Accounting Methods: Cash vs Accrual
For-profit vs nonprofit accounting methods for small nonprofits are very different and more complicated. Not only do nonprofits need to account for service-based income like a for-profit, they must also account for donations, grants and fundraising event revenue.
[Read more…] about Nonprofit Accounting Methods: Cash vs AccrualNonprofit 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…] about Nonprofit Budget Basics: The Key to Financial HealthNonprofit Profitability: 6 Steps to Fulfilling Mission-Based Goals
Most nonprofits don’t think in terms of nonprofit profitability when it comes to fulfilling their mission. But, today’s nonprofits have to think differently.
[Read more…] about Nonprofit Profitability: 6 Steps to Fulfilling Mission-Based GoalsNonprofit Accounting Questions: Blueprint for Compliance
In order to fully understand compliance, you must answer three key basic nonprofit accounting questions. This is the basis for the difference between nonprofit and for-profit accounting.
[Read more…] about Nonprofit Accounting Questions: Blueprint for Compliance