Sample Cash flow worksheet for nonprofit organizations

Revenues and Expenses incurred by an organization are measured on ‘accrual basis’ concept. According to accrual concept, revenues is recorded when it is earned, and expenses are recorded when they are incurred and is not necessarily the same as the amount of cash received or paid out. Thus there might be an expense which necessarily […]

Sample statement of activity of nonprofit organizations

The Income statement (also called the Statement of Activity or the operating statement) describes how the organization has dealt with its income and expenses in a given time period. This is primarily established by understanding how the organization’s net assets have been utilized over time. This change in net assets is expressed through the general […]

Accounting systems for Non profit start ups

The accounting procedures for non profit organizations in the U.S.A is governed by the Generally accepted accounting principles (GAAP) laid down by the Federal Accounting Standard boards (FASB). The systems are very comprehensive and it would be beyond the scope of this article. It is also not necessary for a non profit organization to get […]

Opening a Bank Account for Nonprofit Organization

Opening a bank account is the second logical step in starting a non profit organization. Generally you will have to furnish the identity proof and address proof of all the members on the board of the organization along with the copy of registartion of the non profit organization. The members on the board of the […]