Financial Statements of Nonprofits are Different (Currently Unavailable)

Author: Sheila Shanker

Concerned about nonprofits’ financial statements? You’re not alone. Many seasoned accountants get confused when they start working with nonprofits, also known as not-for-profit or tax=exempt organizations. On the surface, both nonprofits and for-profits look the same, but there are significant differences between these two to require different reports.

Publication Date: June 2016

Learning Objectives

• Recognize the differences between not-for-profit and tax exempt organizations

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour)

Program Prerequisites
None

Advance Preparation
None