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The Simplified Guide to Not-for-Profit Accounting, Formation and Reporting
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- Published on: 1600
- Binding: Paperback
Most helpful customer reviews
0 of 0 people found the following review helpful.
A really great beginner book for individuals trying to learn not-for-profit accounting
By The Truth
A really great beginner book for individuals trying to learn not-for-profit accounting. You must be cognizant that some of the rules and regulations apply only to the state in which the author is resides in so do your research to find laws applicable in your state.
33 of 35 people found the following review helpful.
A must-read for anyone involved in not for profits
By R. Michael Moran
Laurence Scot has done an excellent job writing a concise yet comprehensive guide to the organizational, finance, and accounting framework for not-for-profits. The book is very well-written and flows logically from topic to topic. The reader will be much better served by buying this book than one of the "For Dummies...." guides on similar topics. Buy this book!!!!
The Simplified Guide to Not-For-Profit Accounting, Formation, & Reporting takes the reader on a journey from getting that initial "aha" idea that germinates many not for profits, to the registration process with the state(s) and IRS, how the accounting operations should function, what items in NFP financial statements mean and how they should be presented, what to consider when buying NFP accounting software, and roles of the board, committees and management.
It is so clearly written that even the least financially-savvy board member can quickly read it, understand it, and apply what they learned to their work on the board.
I am the CFO of a not-for-profit and I have to say that every not-for-profit would benefit from distributing copies of this book to their senior staff and board members.
12 of 12 people found the following review helpful.
Solid overview of NFP accounting
By Edwin
This book provides a solid overview of not-for-profit accounting. It starts with the basics - what is a NFP and basic double entry accounting (credits and debits) - before moving onto real issues - accounting for assets and liabilities, contributions, investments, expenses, budgeting and providing a brief overview of the new 990 and preparing for external audits. The author amply illustrates each point with journal entries, financial statements & charts. There is a sample NFP chart of accounts in the appendix.
I would have liked to see the book go into more detail about the 990, preparing for audits and internal controls for NFP; however, those are topics for other books.
That said, this book does what it aims to do; it gives the reader a "simplified" overview of NFP accounting, and its a book I am going to recommend to my NFP clients.
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