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(Gruner & Jahr, 2003 Inc Magazine).
Anyone familiar with Generally Accepted Accounting Principles (GAAP) and practices will find most accounting for nonprofit activity to be very familiar. There are, however, some significant differences, which include:
« Accounting for Contributions
« Capitalizing and Depreciating Assets
« Use of Cash- and Modified Cash-Basis Accounting
« Functional Expense Classification
The act of budgeting resources to meet or beat the goals of an organization is an art form in any type of business. "All business should prepare budgets," (Hansen and Mowen, p. 282)...
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