The main difference between nonprofit vs for profit 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 For-Profit vs Nonprofit Accounting: What Is the Difference?
Nonprofit Financial Statements
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 Requirements
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-Profits
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.[Read more…] about Nonprofit Cash Flow Forecasts: How To Avoid Deficits
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources.[Read more…] about Nonprofit Financial Transparency: Best Ways to Build Donor Trust