Financial reporting – How nonprofit accounting differs from its for-profit counterpart
Abstract: Many effective nonprofit board members come from the for-profit world. They bring talent and organizational savvy that may help elevate a nonprofit organization’s overall performance. But, when it comes to understanding financial reporting in this arena, these for-profit pros often need training to help them properly oversee your organization’s finances. This article covers some of the differences between the two reporting styles, which has links to organizational purpose and transparency.