The main difference between for-profit and nonprofit accounting is that for-profit businesses operate under the principles of profit and loss, while nonprofits operate under the principles of social welfare.
[Read more…] about Nonprofit vs For-Profit Accounting: What Is the Difference?Nonprofit Financial Statements
Nonprofit Audit: Guide to Preparation and Requirements
Proper nonprofit audit preparation builds donor trust, financial transparency and accountability. This guide steps you through preparation, requirements and standards.
[Read more…] about Nonprofit Audit: Guide to Preparation and Requirements8 Reasons Why Financials for Nonprofits Are More Difficult than For-Profits
Financials for nonprofits require an in-depth understanding of the sector as well as exposure to some of the challenges that make it so unique.
[Read more…] about 8 Reasons Why Financials for Nonprofits Are More Difficult than For-ProfitsNonprofit Cash Flow Forecasts: How To Avoid Deficits
Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem.
Nonprofit Financial Transparency: Best Ways to Build Donor Trust
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources.
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