The Charity CFO

JANUARY 21, 2022

Nonprofits often receive donations or grants designated for a specific purpose–like a donation to a specific program or grant you have to spend within a calendar year. And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face.

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Nonprofit Accounting GAAP Accounting Principles 98

The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same.

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Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

AUGUST 30, 2022

ASC 606 Revenue Recognition for Nonprofit Organizations. All US businesses, for-profit and nonprofit, were subject to new revenue recognition standards starting by 2019. These new standards are detailed in ASC 606 and impact all companies that contract with customers to transfer goods or services. What Is ASC 606?

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Nonprofit Accounting Standards CFO Accounting 98