Where can I learn about the accounting terms used in not-for-profit organizations?
Terms such as permanently restricted funds, temporarily restricted funds and other terms used by not-for-profit organizations are discussed in the Financial Accounting Standards Board’s Statements of Financial Accounting Standards Nos. 116 and 117. You can read these two statements at no cost on their website www.FASB.org/st.
About the Author: Harold Averkamp (CPA) has worked as an accountant, consultant, and university accounting instructor for more than 25 years.He is the author of the 2010 Master Accounting Download Package which has been praised for it's ability to simplify accounting in a way that anybody can understand.
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What is the relevance of accounting in for profit and not-for-profit organisations?
Accounting is a buisnes language
it need to use there financial potencial eficently.