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Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. Also, revenue must be recorded when it is actually or “constructively” received. So if you expect to grow or search for new sources of funding, you’ll probably need to graduate to accrual-basis accounting.

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Two CFO-Level Accounting Tools to Add Value to Your Accounting Services

The CFO College

Increase Your Value and Boost Your Services with Two CFO-Level Accounting Tools. Simply by implementing a few CFO-level skills and tactics (and learning how to prove our value to potential clients), you can position yourself as someone your clients instinctively turn to as they navigate the sometimes turbulent waters of running a business.