Nonprofit organizations
Answer the following questions in 200 to 300 words:
1. Nonprofit organizations are required to produce financial statements based on the accrual method of accounting. How is this different from the cash basis of accounting? Why is accrual accounting important? (Be sure to discuss why accrual accounting is important, not just why accounting in general is important). In an accrual system, does revenue equal cash?
Read the background information provided in Appendix B.
Complete the personal balance statement template provided in Appendix C based on your understanding of the information in Appendix B. You can use real or fictional numbers.
Post your Appendix C as a Microsoft® Excel attachment
Read the background information provided in Appendix B.
Complete the personal balance statement template provided in Appendix C based on your understanding of the information in Appendix B. You can use real or fictional numbers.
Post your Appendix C as a Microsoft® Excel attachment
Read the background information provided in Appendix B.
Complete the personal balance statement template provided in Appendix C based on your understanding of the information in Appendix B. You can use real or fictional numbers.
Post your Appendix C as a Microsoft® Excel attachment
Read the background information provided in Appendix B.
