FUND ACCOUNTING

Assignment 3: Fund Accounting



A nonprofit organization is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals. Examples of NPOs include charities (i.e., charitable organizations), trade unions, trade associations and national arts organizations. Most governments and government agencies meet this definition, but in most countries they are considered a different type of organization and not counted as NPOs. In most countries, NPOs are exempt from income and property taxation.

An Audit and Accounting Guide for Not-for-Profit Organizations has been proposed in the USA by the Not-for-Profit Organizations ...