Introduction to Nonprofit Fund Accounting
Fund Accounting for Nonprofits: In-Depth Guide to Basics
What Is Fund Accounting for Nonprofits: Basics and Best Practices
Nonprofit fund accounting makes it easier to understand financial reporting by generating more meaningful information.
The emphasis of fund accounting is accountability rather than profitability. A fund is like a separate company within your organization with its own self-balancing set of books to track assets, liabilities, revenue, expenses and fund balances or net assets.
Fund accounting is necessary for nonprofits because the revenue earned by a nonprofit has different characteristics. Some funds are unrestricted, some have restrictions placed by funding sources and some have restrictions placed internally by the board. Some restrictions are temporary and some are permanent.
******************************
Time Stamps:
0:07 - What is fund account
0:30 - How fund accounting makes nonprofits accountable
1:33 - 3 Main Categories of Fund Accounting
3:30 - Subcategories of Fund Accounting
******************************
Want to take control of your Nonprofit Financial Management?
Sign Up for a Live Demo of FastFund Online and learn how you can achieve your financial goals - https://calendly.com/araize/live-demo
[Online Course] Nonprofit Accounting Fundamentals.
Master nonprofit accounting. Empower your nonprofit organization to become more accountable to funding sources and increase sustainable revenue — as quickly as possible.
Register Now: https://bit.ly/NFM_Course
Connect with us on:
Web: https://araize.com
Facebook: / araize
LinkedIn: / joescarano
Twitter: / fastfundonline
Have questions? We welcome your questions, comments and feedback below.
Don’t forget to SUBSCRIBE for more insights into Nonprofit Financial Management and learn how to achieve your financial goals.
Watch video Introduction to Nonprofit Fund Accounting online without registration, duration hours minute second in high quality. This video was added by user Araize Nonprofit Software 27 April 2016, don't forget to share it with your friends and acquaintances, it has been viewed on our site 4,021 once and liked it 30 people.