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The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E, 3rd Edition by Robert Cooke, Susan Shelly, H. George Shoffner

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APPENDIX GNONPROFIT ORGANIZATIONS

The basics of finance, as covered in this course, can apply to nonprofit organizations such as charities, clubs, associations, religious organizations, and governments. However, there are some differences.

Years ago, most of these organizations reported on a cash basis only, but now there is a strong trend toward accrual basis reporting. Many organizations did not even prepare a balance sheet, but only a list of cash receipts and expenditures. This meant that once property and equipment had been purchased, they disappeared from future financial reports. Of course, it makes more sense to keep track of those assets by showing them, with accumulated depreciation, on a balance sheet, and showing depreciation expense ...

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