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  • Financial Management

11 Accounting Pitfalls Your Nonprofit Should Avoid

Making sure your nonprofit is complying with accounting regulations and laws is critical to your success. This short article lists a variety of accounting problems that are common to nonprofit organizations - problems that you need to avoid.

Creative Commons Attribution-NonCommercial-NoDerivs 3.0 United States License
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Taggedaccountingaccounting pitfallsnonprofit accountingfunctional accountingfinancial managementexecutiveconsultingconsultant

Separation of Duties

Separation of financial duties for two-, three- and four-person offices.

Creative Commons Attribution-NonCommercial-NoDerivs 3.0 United States License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 United States License.

The Sharing Entity offering such Paid Content hereby grants You a nonexclusive, personal, noncommercial, non-sublicenseable, non-transferable, limited right and license to view, use, display and adapt for your own personal use such Paid... (continued)

Taggedfinancial managementaccountingadministrationmanagement & technical assistanceinternal controlsadministrative

What’s the Story Behind the Numbers? A Grant Maker’s Guide to Understanding Nonprofit Audits

A guide for grant makers and others who want to gain a better understanding of nonprofit financial statements. The guide discusses accounting principles, concepts behind the numbers, and methods & tools used to analyze financial statements.

Creative Commons Attribution 3.0 United States License
This work is licensed under a Creative Commons Attribution 3.0 United States License.

The Sharing Entity... (continued)

Taggedgrantsnonprofit financial statementsadvisorexecutiveaccountingfinancial management

Q&A - Responsibilities of an Audit Committee

Outlining the responsibilities of the board of directors audit committee.

Creative Commons Attribution-NonCommercial 3.0 United States License
This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 United States License.

The Sharing Entity offering such Paid Content hereby grants You a nonexclusive, personal, noncommercial, non-sublicenseable, non-transferable, limited right and license to view, use, display and adapt for your own personal... (continued)

Taggedfinancial managementauditprogram directorprogrammontanamanagement & technical assistanceexecutivecommunity improvement & capacity buildingcommittee

Sample Financial Management Policies and Procedures

Sample financial policy for boards of directors.

Creative Commons Attribution-NonCommercial 3.0 United States License
This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 United States License.

The Sharing Entity offering such Paid Content hereby grants You a nonexclusive, personal, noncommercial, non-sublicenseable, non-transferable, limited right and license to view, use, display and adapt for your own personal use such Paid... (continued)

Taggedfinancefinancial managementprogram directorprogrampolicies for financial managementmontanamanagement & technical assistancecommunity improvement & capacity buildingboard of directors

A Few Good Accounting Packages

Is tax season a time of time of stress, chaos and panic, or a relatively trouble-free period? Can you access the information you need in your accounting software, create reports and track restricted funds, or does just logging on make you worry about crashing your computer?

http://www.idealware.org/articles/fgt_accounting.php

Taggedfinanceaccountingsoftwareirsfunctional accountingfinancial management

Improve your Audit Prep Process: Tips from the Experts (An AMS Resource)

This e-book is designed to present organizations of all sizes with valuable insight into the audit preparation process. A collection of helpful tips from audit preparation experts, it includes a range of audit preparation best practices, from how to begin the audit process to what specific... (continued)

Taggedfinanceaccountingauditsolutionsaudit prepfinancial management

On a Smaller Scale: Adapting Risk Management Principles

Article presenting risk management practices and guidelines for smaller agencies with limited budgets.

Article presenting risk management practices and guidelines for smaller agencies with limited budgets.

http://nonprofitrisk.org/library/fact-sheets/small.shtml

Taggedrisk managementorganizational developmentprogrammanagementliabilityfrauddisaster recoverytheftforgery

De-myth-ifying IRS Form 990

Article de-myth-ifying the every day questions and comments about IRS Form 990 from novices and sophisticated users alike. This tip sheet shares misperceptions and offers more information on the IRS Form 990 for those interested in continued research.

Article de-myth-ifying the every day questions and comments about IRS Form 990... (continued)

Taggedaccountingbudgetingcash flowreportingetc.)cagingbudget deviation analysisfinancial statements (cash flow statementsfinancial analysis (ratiosbreak-even

What is Unrelated Business Income for Nonprofits?

Article explaining what Unrelated Business Income (UBI) is, and how nonprofit organizations must be careful not to engage in activities that produce an excess of UBI at the risk of losing their nonprofit status.

Article explaining what Unrelated Business Income (UBI) is, and how nonprofit organizations must... (continued)

Taggedfinancial managementaccountingcash flowbookkeepingdefinitionbudgettingchart or accountsgetting an accountant or bookkeeperbuying accounting softwaregetting a banker

Nonprofit Bookkeeping Test

If you're not an accountant, it can be hard to hire a qualified bookkeeper. How can you tell if an applicant really knows bookkeeping? CPA Dennis Walsh created this terrific assessment test to give candidates for nonprofit bookkeeping and accounting jobs. We especially like the chart at the end that shows what training is... (continued)

Taggedtestfinancial managementexecutiveadministrativefinanceassessmentaccountingquizaccountantbookkeeping

2011 Nonprofit Sector Survey: Highlights

NFF's Sector Survey is creating a repository of nonprofit data that can shed light on financial trends in our sector. By better using and sharing data, we believe that nonprofits, with assistance from key stakeholders, can become more resilient in uncertain times and draw on the successful strategies used by their peers.

http://nonprofitfinancefund.org/2011-nonprofit-sector-survey-highlights

Taggedoperating expensesfinancenonprofit dataoperating reservesmanagement & technical assistancefinancial managementcommunity improvement & capacity buildingadministrative

Budgeting Income for Nonprofits

Brief article on developing an income budget based on projected grants and contributions.

https://nonprofitsassistancefund.org/

Taggedbudgetnccsfinancial managementfinance