Why Nonprofit Accounting is Different Than Accounting for Business

While the fundamentals of nonprofit and for-profit accounting may be the same, the methodologies can differ substantially. Join us for a discussion with Greg McRay of Foundation Group to unpack the key differences between nonprofit and for-profit accounting, like handling restricted and unrestricted funds, recognizing in-kind contributions, adhering to specific nonprofit reporting standards, and more.

Learning Objectives:

  • Understand the unique regulatory landscape governing nonprofit accounting.

  • Grasp the specific financial reporting requirements exclusive to nonprofits and their implications.

  • Learn the intricacies of managing donations, grants, and other nonprofit funding sources.

  • Identify and overcome common challenges faced by those doing the books for a nonprofit.