A Statement of Cash Flows is a financial statement that reports a nonprofit organization's cash inflows and outflows for a given period. It provides information on the sources and uses of cash and is...
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In nonprofit accounting, the Statement of Activity (also known as the Income Statement or Statement of Revenues, Expenses, and Changes in Net Assets) serves a similar purpose as the for-profit Income...
Nonprofits typically create three primary financial statements: Statement of Financial Position: This statement, also known as a balance sheet in for-profit accounting, provides a snapshot of the...
What are Unrestricted Net Assets in a Non-profit Organization?
Unrestricted net assets are a portion of a nonprofit organization's net assets that are not subject to donor-imposed restrictions or other limitations on their use. In other words, these are funds...
What are the Differences Between Non-profit and For-profit Financial Statements?
There are some key differences between nonprofit financial statements and for-profit financial statements. Here are a few: Purpose: Nonprofit financial statements are intended to provide...
What are Temporarily Restricted Net Assets in a Non-profit Organization?
Temporarily restricted net assets are a portion of a nonprofit organization's net assets that are subject to donor-imposed restrictions on their use, but only for a certain period of time or until a...