Accounting How To: How to Pass Accounting Class!

Comprehensive income is a concept in accounting that refers to the change in a company's equity during a period, resulting from transactions and events outside of the company's ordinary operations....

The capital maintenance concept is an accounting principle that establishes how a company should determine and maintain its capital or equity. It is an essential concept in financial reporting as it...

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board (IASB) to provide a globally recognized framework for...

A nonprofit organization may need to convert from cash basis to accrual basis accounting for a variety of reasons. One common reason is that as the nonprofit grows and becomes more complex, it may...

Governance for nonprofit organizations refers to the process of overseeing and guiding the organization's operations, finances, and activities. Nonprofits are governed by a board of directors, which...

The main difference between nonprofit accounting and for-profit accounting lies in the purpose of each organization. Nonprofit organizations exist to fulfill a social mission or provide a service to...