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Nonprofit Accounting Basics
Not surprisingly, many nonprofit board members do not fully understand financial statements—despite the fact that understanding those statements is key to good governance.
Has this ever happened to you?
In a previous article, we described the importance of including multiple internal stakeholders when selecting and implementing an Association Management System (AMS).
It used to be called the income statement, and many nonprofit organizations produce a variety of versions of this report calling it various names such as b
It used to be called the balance sheet.
It is a prudent financial practice to prepare and operate from a budget. The budget is the annual financial plan for carrying out the strategic plan and mission of the organization.