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Show me the Money: An Overview of Financial Statements for Fund Accounting
A Financial Statements Series Accounting systems capture accounting transactions. Financial statements are constructed from these transactions and depict the economic activity and financial position of...
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Show me the Money: Understanding the Statement of Revenue and Expenses
A Financial Statement Series Although FASB Statement 117 requires a non-profit organization to produce a Statement of Activities, Revenue and Expense statement still serve a purpose. These two are...
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Show me the Money: The Statement of Activities with Functional Expenses
A Financial Statements Series A Statement of Activities is similar to a Statement of Revenue and Expenses. Because nonprofits have an operating purpose other than making a profit, the terms “statement...
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Show me the Money: Understanding the Balance Sheet
Financial Statement Series Throughout this series, we’ve established that FASB Statement 117 sets the minimum reporting standards for nonprofit organizations. The balance sheet is not part of those...
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Show me the Money: The Statement of Financial Position
Financial Statement Series The statement of financial position required for nonprofits by FASB Statement 117 is similar to the balance sheet which we discussed in a previous article in this series. The...
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