The Charity CFO

JANUARY 17, 2022

The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique. . Accrual-Basis Accounting. Nonprofit accounting has its own terminology.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

JANUARY 21, 2022

If you’re looking for info on fund accounting in government here is a great resource for you. Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Charity CFO

JULY 19, 2024

The CFO role generally includes: responsible for the strategic direction and goal setting of a nonprofits accounting and financial management. Responsibilities typically include advanced analysis and reporting, budgeting, etc. The CFO generally works on high-level projects, such as creating a yearly operating budget.

CFO 52

CFO Accounting Nonprofit General Ledger 52

The Charity CFO

JULY 12, 2024

The timing of an organization’s income and expenses in cash-basis accounting can misrepresent the actual financial state of the nonprofit. Additionally, the cash-basis method can make accurate forecasting and budgeting difficult. Say a nonprofit hosts a large fundraising event in the second quarter.

Nonprofit 52

Nonprofit Accounting Budgeting GAAP 52