Nonprofit Accounting Myths Busted Edit Title

Wed, Mar 02, 2016 at 1pm EDT / 10am PDT Edit Date

The current season of Discovery’s Mythbusters will be its last. To bid farewell to this iconic television series which has aligned so well with the goal of many nonprofits to encourage Science, Technology, Engineering, and Mathematics (STEM) careers, I brazenly "borrow" their format to clear up common misconceptions about nonprofit accounting. Accounting myths we will explore include:

  1. The purpose of an audit is to uncover fraud
  2. Accounting is an exact science
  3. A surplus means a nonprofit is in good financial condition

You will take away from this presentation a better understanding of what accountants and auditors do, how their work relates to your mission, and how to read financial reports. You will be a more informed consumer of accounting services.

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Based on the article "5 Accounting Myths Busted" published on LinkedIn February 27, 2015.
https://www.linkedin.com/pulse/5-accounting-myths-busted-paul-konigstein?trk=mp-author-card

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  3. Judi Piggott Judi Piggott commented Wed, Mar 02, 2016 at 08:34PM UTC (edited Thu, Mar 03, 2016 at 06:01PM UTC)

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