Nonprofit Fund Accounting Basics
If you’re interested in learning some of the basics for nonprofit accounting, a key difference between for-profit and nonprofit accounting standards is the concept of fund accounting, which focuses on accountability and stewardship rather than profitability. For-profit entities have a general ledger, which is a single self-balancing account. But nonprofits typically have a number of general ledgers, or funds. Because nonprofits need to identify individual sources of funds and their use, this accounting framework enables these organizations to separate resources into various accounts. And since nonprofit organizations receive many benefits as tax-exempt organizations, they must keep detailed records about contributions, assets, and expenses.
During the webinar we discuss:
- Basic fund accounting guidelines and practical applications for nonprofits
- Chart of account structures for nonprofits and churches
- Contribution tracking in bookkeeping
- Form 990 Preparation
- Software options for nonprofits and churches
- And more!
“Excellent presentation. Looks like a good product for non-profit organizations.“
“Overall a great course and provided some insight into the world of non-profit bookkeeping.“
“Excellent webinar. Thank you.“
“Alex is interesting and informative! Good assistance w/ guidance on the Form 990. Excellent webinar!“
“Alex did an incredible job explaining some of the difference regarding non-profits versus for profit accounting. This was an introductory, quick overview about non-profit accounting and why it is important to set-up the buckets well. I appreciated his approach with helping viewers understand the importance of setting the books up to work well with reporting expectations.“
“Alex Acree was a very good presenter, easy to understand and gave valuable information on Form 990. Enjoyed the presentation.“
Note: This is an archived webinar that we offered on CPAacademy.org, the accounting industry’s most innovative independent source for online education.