While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies. Just like for-profit businesses, non-profits use financial statements to report revenue generated and expenses incurred, although they may have different names.
The treasurer of a non-profit reports the organization's finances and handles the management of the organization's.
In 2016, the Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) No. 2016-14,.
Topics: startups, nonprofit accounting services, funding
Since most nonprofit organizations are focused on the public good, you would think they'd be easy to start. Of course,.