Articles on Finance | Topics: finance, financial, financing
by Quincy G. Quinn
I have been working with financial balance sheets for years, although I am not primarily an accountant. Still, I have a broad base of managerial experience, and I'm pretty handy with numbers. Nonetheless, my new non profit job absolutely baffles me. I had always thought that financial balance sheets were easy, but my non profit financial statements are absolutely terrifying.
Of course, keeping your paperwork in order is a challenging and important task for any business, but for non profit organizations, it is much more difficult. First of all, almost all non profits are forever applying for grants. Running an operation off of grants requires the most careful of financial tallies. A normal business just has to show that it has used its funds appropriately for the running of business and has returned the right amount of money to shareholders, but a non profit financial statement has to show much more. Most grants are only allocated for a very specific purpose, and they often require that the nonprofit financial statements be kept to the strictest level of accuracy. Basically, in the not for profit organization I work for, almost every penny has to be counted.
| Quote of the Day |
What people don’t realize is that intimacy has its conventions as well as ordinary social intercourse. There are three cardinal rules—don’t take somebody else’s boyfriend unless you’ve been specifically invited to do so, don’t take a drink without being asked, and keep a scrupulous accounting in financial matters.
|
|
Of course, non profit financial statements are also scrutinized very closely by the government. With a recent spate of corruption in the private sector, you can't be too careful. I feel like most of my previous bosses were a bit lackadaisical in their management styles. They thought that nothing could touch them, and so although they weren't corrupt, they also didn't go to great pains to prove that they were honest businessmen. With this particular nonprofit, however, things are much different. Raising awareness about environmental issues, they have made powerful enemies. They have been audited two out of the last three years, and so it is understandable why they would take such great pains with the non profit financial statements. Even so, I don't like it very much. It doesn't really make my life any easier!
Still, at least I am appreciated here. I work with some very passionate people, you see, but I am about the only person in this office with a practical head on my shoulders. I have worked in the private sector for years unlike most of these idealists, so I know how things work there. When money is a little less tight, they will hire an expert to take the non profit financial statements off of my hands. Until then, however, is back to the grind.
|
We strive to provide
only top rate articles on our website. If
there is a specific topic about finance that you would like us to cover, please contact us here.
Please note: All personal opinions expressed in the "Non Profit Financial Statements" article belong to the contributing author and are not necessarily shared by BusinessInvestingFinance.com. |
Missing Money
By Ellinor Underwood
I’ll bet you would be surprised to learn that there are millions of dollars that belong to average citizens just like you that are sitting unclaimed. This missing money consists of everything from forgotten bank accounts to insurance proceeds....
Flood Insurance: Are you covered?
By Krystal Kim
Flood Insurance: Are you covered? For most people, there are few investments as major as owning a home. In addition to being a huge financial endeavor, homes contain most of a person's valuable and sentimental possessions within it....
An Introduction to Niche Marketing
By Nathanial O'Donnell
An Introduction to Niche Marketing. What's all this hubbub about niche marketing? Why is every successful marketer preaching niche marketing as being vital to your profitability as a marketer online or offline? In answer to that, let's paint a little picture......
Financial Aid For School
By Kamilah Turner
There are very few people who can pay the tuition for college without giving it much thought. This means that many students must go out and take advantage of all of the financial aid for school they can find....
Business Colleges
By Pennie Quinn
Picking out the right business colleges can be difficult. After all, you probably do not really want your college experience to be solely a vocational thing....
Non Profit Financial Statements
By Quincy G. Quinn
I have been working with financial balance sheets for years, although I am not primarily an accountant. Still, I have a broad base of managerial experience, and I'm pretty handy with numbers....
|
