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Final Project Two Nonprofit Accounting (Example)

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Student’s Name Instructor’s Name Course Date Memorandum To: Kelly Smith Chief Executive Officer From: James Courtney Accounting Department Spark Health & Welfare Organization December 18 2017 Re: Financial Statement Report The financial statements give a summary of an organizations operations for a given period. Most organization report at the end of a fiscal year which is usually 12 months since its commencement. Some organizations also prepare interim reports which may be quarterly or semiannually. The fiscal year for Spark Health & Welfare Organization begins in January 1st and ends in December 31st. The following report analyzes the financial statements for the 2015 fiscal year which is also the first year of operation since the company was incorporated. The financial statements are prepared to inform the stakeholders or interested parties to the organization about the financial position of the company. For instance the managers require the financial information to help nonprofit organizations seek to attract donors. Finally the ratios used to analyze the financial statements of a for-profit organization include profitability leverage efficiency liquidity and investment ratios. Nonprofit financial reporting is also different from government financial reporting. The first difference is revenue generation. As nonprofit generates revenues from contributions by donors and other special events the government generates revenues from taxes and offering services such as utilities park and recreation services where a fee is charged on the same. Secondly the government accounting is governed by the Government Accounting Standards Board while the nonprofit organizations are governed by the Financial Accounting Standards Board. The statement of net assets for the government is the same as the statement of financial position of nonprofit organizations. Finally while government organizations are required to produce comprehensive annual financial reports it is not mandatory for the nonprofit organizations. Yours faithfully James Courtney Works Cited [...]

Order Description:

Prepare a memo to management Evaluate governmental and nonprofit accounting statements in determining the fiscal position of various entities using appropriate tools of the discipline  Select accounting methods appropriate to the differentiated needs of governmental and nonprofit organizations  Determine appropriate strategies for effectively communicating the differences between private sector, governmental, and nonprofit reporting to stakeholders a) Analyze the results of operations, including what the results tell the readers about the organization. b) Explain what the statements tell about the strengths and weaknesses of the organization’s financial position. c) Discuss how the accounting and statements would be different if the organization was for-profit. d) Discuss how the accounting and statements would be different if the organization was government-operated.

Subject Area: Accounting

Document Type: Proofreading

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $35

Words 1100

Pages 4

Completed in 4 days

Expert ProfMulambo

Client Review

Well done. I will ask her to do another paper.


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