Subscribe to our newsletter
Can't Find Something? Ask Us
Nonprofit Accounting Basics
Often it is difficult to distinguish between a contribution and an exchange transaction, the following factors are indicative of an exchan
When you receive a grant from a governmental agency, it will typically include a program budget.
Split-interest agreements, also known as planned giving, are contributions that assign the legal rights to certain assets to an NFP
FASB116 focuses on the concept of restricted revenue.
Agency transactions occur when one NFP (the agent) raises contributions for another NFP (the recipient).
Deciding whether or not to use accounting software is really a personal preference.
Inventory is recorded on the books of an organization when the organization has items it creates or purchases and then sells to the public.
Generally, there are two methods under which you can do your accounting; the cash method and the accrual method.
Accounting allows organizations to identify how much money is coming in and being spent.
The Internal Revenue Service believes that promoting best practices in the areas of governance, management and disclosure will lead to a higher level of federal tax law compliance.