O'Reilly logo

Streetsmart Financial Basics for Nonprofit Managers by Thomas A. McLaughlin

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Appendix A

A Financial Management Cultural Primer

One aspect of the global economy is that the United States's nonprofit sector increasingly welcomes people with no previous knowledge of it, either because they have spent their energies in the for-profit world or because they are from another country. Although this book has been written as simply and accessibly as possible, it still assumes a certain level of familiarity with American cultural, legal, management, and political practices. The purpose of this appendix is simple: to answer anything about a topic in the book that a reasonable person unfamiliar with finance would not be expected to know. We organize it as a kind of glossary, by chapter, to make it easier to use as a reference guide for anyone whose use of the book might otherwise be hampered by seemingly obscure references (including anyone needing a quick refresher on a topic).

Accounting

Chapter 1, 3, 5, 6, 8, 9, 10, 11, 12, 14, 22, 23, 24, 25, 26

  1. ‘Accounting’ refers to the general practice of keeping financial books and records for an entity. Some assume that these systems are run entirely by and with accountants but, especially in small organizations, trained accountants are in the minority—if they exist at all. Instead, these systems use bookkeepers, clerks, and other administrative personnel to process financial data. Accountants are usually best used for higher-level tasks requiring deeper knowledge. Accountants functioning as independent contractors may ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required