Modified Cash Basis Accounting for nonprofits is a hybrid of cash basis and accrual basis accounting. Under this method, certain transactions are recorded using accrual basis accounting while others...
Posts by Caroline Grimm
Grant accounting refers to the process of managing and tracking financial transactions related to grants received by an organization. Grants are typically awarded by government agencies, foundations,...
Fund accounting is a system of accounting used primarily by nonprofit organizations and governments to track and manage their financial resources. It involves segregating the organization's resources...
Setting up the chart of accounts for a nonprofit can be a complex task, but it can be made easier by using Form 990 mapping. Form 990 is the annual tax return that nonprofit organizations must file...
What is Fiduciary Responsibility in Non-profit Organizations?
A fiduciary responsibility refers to a legal obligation to act in the best interests of another person or organization. In the context of nonprofit organizations, board members have a fiduciary...
Cash basis accounting for nonprofits is a type of accounting method that records transactions only when cash is received or disbursed. This means that revenue is recognized when cash is received, and...