The term "nonprofit accounting" refers to the financial record keeping of companies that qualify for tax exemptions such as Charities, Hospitals, Government Departments and Credit Unions.
When running a business it may be a wise idea to purchase profit accounting software. Sites such as Serenic and the SageOne website offer accounting software suitable for all business accounting needs.
An legal and accounting organization which serves the whole community there purpose is non profit earning.
Financial Accounting standards for Non-Profit Organizations SFAS 117 and 116
Do you mean Kiwanis? If so, it is a non profit but not a public charity.
No. Non stock may just mean the for profit company is privately held, meaning it is not a publicly traded company.
The biggest difference is that government account is non-profit and based on funds....also called fund accounting. They do not have profits. Financial accounting tracks income and have or hope to have a profits.
No difference. They mean the same thing.
No difference. They mean the same thing.
That would be an organization that doesn't profit. It will normally be a charity of some description, they use the term 'non-profit' organization to show that they aren't just keeping donated money for themselves.
There is not difference; they mean the same thing.
There are many branches of accounting. Some of the most important are given below:Annual AccountsManagement Accounts / Monthly ReportingStatutory AccountsMaintenance of Statutory RecordsAccounting for TrustsAccounting for Non-Profit Organisations and Charitable TrustsCompany Incorporations and Administration
why do we have non profit organizations