Non Profit Accounting Essay

Anna Marie’s Alliance is classified under 501 (c) (3) classification of tax exempt status since it is an organization operated for philanthropic purposes. Stakeholders of nonprofit organizations that use not-for-profit financial statements include donors, grantors, members, lenders, consumers, and others who provide resources to the not-for-profit organizations (Reck, Lowensohn, & Wilson, 2013, p. 543). It is usual for some not-for-profit entities to use cash basis of accounting for internal

For the final project in ACC380 Accounting for Not-For-Profit, we were asked to prepare a Statement of Activities, a Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets along with a Statement of Changes in Net Assets for Lee College which is a private not-for-profit college. In addition to the financial statements, we were also asked to explain the process that was used to prepare the financial statements and to offer an in-depth analysis of the financial health of Lee College.

Scenario: Use GOOGLE search, the Devry-Keller Online Library and/or one of the approved websites posted in the Webliography to find a research article(s) (no older than 2001) related to non-profit versus for-profit healthcare and organizations. Analyze the characteristics of each type of organization and the factors which impact operations. Discuss options to improve the financial and operational performance of non- profit organizations and the criticisms leveled at for-profit healthcare organizations. Your resultant written paper should be 750 words, double spaced, and in APA or other approved Devry-Keller format/style. Your primary text and the journal/website research article must be used as

As healthcare providers, we need to have open minds and be able to understand all different types of clients. Not all clients are dealing with issues of events like recovering from knee surgery or a heart attack. A large percentage of our population is dealing with addiction problems and alcohol addiction being the largest. As nurses we need to support our clients and help them in anyway possible to find and seek out treatment. One resource that is well known to most communities is Alcoholics Anonymous (AA). This free not profit program can be a great starting point for someone looking for help. In ordered to have an understanding about this resource, it is beneficial to us to attend a few local meeting sites.

Throughout the semester our class has focused on the main nine accounting principles and the importance of adhering to the rules of GAAP. It is especially important for organizations that fall into the nonprofit sector to follow GAAP and to be as transparent as possible when preparing financial statements. Along with the nine accounting principles we focused on the differences of responsibilities and duties between the board of directors and the managers of an

This is a discussion of two types of accounting methods that most companies use, accrual basis or cash basis. A definition of both concepts and comparisons between the two methods will be discussed. In addition, it describes and examines the difference in the managing of those methods and which form of accounting method is more useful and beneficial to provide information to users for different purposes. In cash basis accounting, revenue is recorded only when the cash is received, and expenses are recorded only when cash is paid. The Generally Accepted Accounting Principles (GAAP) prohibits preparing an income statement using the cash basis of accounting as it violates the matching principles and revenue recognition. An

The non-profit line of work is a career field that does not draw much interest due to the lack of financial stability but it is a field that is in dire need of workers. There are people who are dependent on non-profit organizations, of those people women and children rely heavily on non-profit organizations. The Carousel Center and Rape Crisis Center are two non-profit organizations, local to Wilmington, that helps foster and defend victims of assault—especially sexual assault.

The nonprofit sector faces many challenges that make it more difficult to measure its financial performance. Young (2007) states that the survival of nonprofit businesses depends upon receiving financial funding from outside donors such as donations from charities, government contracts, endowments et cetera, and the necessity for having several different revenue sources is a challenge for nonprofit management. In addition, he points out that securing capital for operating is also much different than in the traditional business world. Fortunately, scholars have provided tools and information that will help nonprofits manage and measure their unique financial performance so they may make informed decisions and guide their organizations to sustainability (Young, 2007).

The purpose of this paper is to gain a deeper understanding of the non-profit sector by analyzing a non-profit organization. The organization chosen for this report is SickKids Foundation located at, 525 University Ave, Toronto, ON M5G 2L3.

This paper will examine budgeting procedures for profit and non-profit businesses and compare similarities, and if they exist, differences in accounting practices. This paper will also attempt to review what is Generally Accepted Accounting Procedures (GAAP) for budgeting for any organization to be successful.

When starting this project, I was not sure who I wanted to interview, which field of social work, I wanted to know more first-hand information about. I thought about interviewing a school social worker, or a non-profit management social worker. I eventually decided that I would like to learn about non-profit management because I have not had much knowledge on that concertation.

Grief Counseling Center (GCC) is a non-profit organization established to provide counseling services for individuals who are suffering the loss of a family member. Services will be provided at a nominal fee. The Founder of GCC not only believes in the need for this service, but also is willing to devote his time and money to help those suffering from grief.

Nonprofit organizations have several functions, and not each one is alike. Essential to all non-profit organizations are four functions: planning, budgeting, funding and management.

Financially healthy nonprofits use income-based, rather than budget-based spending which allows them to have income projections that are realistic and helps to determine realistic costs (Zietlow, Seidner, 2014). The most successful nonprofit should have an operating reserve to finance shortfalls and hopefully allows them to have a positive cash flow at the end of the year (Zietlow, Seidner, 2014). However, most nonprofit organizations fight to manage cash flow due to how income and the expenses often may occur at different times, so that there may not be enough cash to pay for the expenses as they become due and payable (Zietlow, Seidner, 2014).

A Non-profit Organisation (NPO) is an establishment that uses its funding for the pursuit of a specific purpose such as for a charitable cause (Lorette, 2015). It is different from a for-profit organisation as its objective is to provide greater good to the society rather than to maximise the wealth of its stakeholders. The surplus revenues of an NPO are used for either its expansion, self-preservation or plans and no part of the profit is distributed to its members. NPOs are increasingly starting to operate like traditional business organisations as strategic planning and marketing is imperative for their survival.