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Complicated question: REAL simple answer, which way oversimplifies it... SHOULD BE accrual, but that is not always possible depending on staff ability and resources.
Well, really it depends on the type of non-profit but it's been my experience that both methods are used, the cash method for most receivables aka "donations" and when purchases are made. We deduct the purchase when the bill is received. The accrual method is used when accounting for the grants that are awarded but not yet received. Hope that explains it a little better. :)
Greyson Swaniawski
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Why do we have non profit organizations?
why do we have non profit organizations
What is SFAS 117?
Financial Accounting standards for Non-Profit Organizations SFAS 117 and 116
Why do we have nonprofit organizations?
why do we have non profit organizations
Where can one find a list of non profit organizations?
To find a list of non profit organizations, check online at the site Non Profit List or List of Non Profit Organizations. Try your local phone book to find a non profit near you.
Non-profit organizations may?
Non-profit organizations have self-preservation, expansion or plans. A non-profit organization uses surplus revenues.
The concept of competitive advantage is as important for non-profit organizations as it is for?
"The concept of competitive advantage is as important for non-profit organizations as it is for profit organizations". Do you agree with this statement or not? Explain with examples to justify your answer. "The concept of competitive advantage is as important for non-profit organizations as it is for profit organizations". Do you agree with this statement or not? Explain with examples to justify your answer.
What is the method for accounting of non-profit organizations?
Complicated question: REAL simple answer, which way oversimplifies it... SHOULD BE accrual, but that is not always possible depending on staff ability and resources. Well, really it depends on the type of non-profit but it's been my experience that both methods are used, the cash method for most receivables aka "donations" and when purchases are made. We deduct the purchase when the bill is received. The accrual method is used when accounting for the grants that are awarded but not yet received. Hope that explains it a little better. :)
The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?
The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?
Are all volunteer organizations non profit?
Not all volunteer organizations non-profit, some are companies who wish to lend a helping hand to help those in need. But the majority of volunteer organizations are non-profit.
Why do we have organisms?
why do we have non profit organizations
Are Non governmental organizations non profit?
not totally
What governmental agencies offer lists of non profit organizations?
The federal government and local state governments will have lists of non profit organizations. GuideStar also list non profit organizations. You may have to search within the government sites to get to the lists.
