Accounting Principles Accounts Payable Auditing Sales 
The Charity CFO
JANUARY 17, 2022
The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique. . Unpaid bills (accounts payable). Sales of products or services.
The Charity CFO
FEBRUARY 4, 2022
Nonprofits must maintain thorough and accurate financial records to comply with both Generally Accepted Accounting Principles ( GAAP ) and maintain their tax-exempt status with the IRS. Many nonprofits have earned revenue streams, like membership subscriptions, tuition fees, course enrollments, or sales at company stores.
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