Bookkeeping text for nonprofits. (Product Watch).A book from the Amherst H. Wilder Foundation, Bookkeeping bookkeeping, maintenance of systematic and convenient records of money transactions in order to show the condition of a business enterprise. The essential purpose of bookkeeping is to reveal the amounts and sources of the losses and profits for any given period. Basics: What Every Nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. Bookkeeper Needs to Know, enables nonprofits to meet the basic bookkeeping requirements of their organizations. This hands-on guide gives the novice bookkeeper the knowledge and skills to track the financial activity of the nonprofit. Authors Debra L. Ruegg and Lisa M. Venkatrathnam guide readers through the concepts and processes that every bookkeeper needs to know, including: single-vs double-entry bookkeeping Double-entry bookkeeping Accounting method that records each transaction as both a credit and a debit in different accounts. , cash- vs accrual-basis accounting, posting financial transactions, keeping a "paper trail" of source documents, preparing a trial balance, creating financial statements, establishing internal controls, preparing for the annual audit, and closing out the fiscal year. A glossary A term used by Microsoft Word and adopted by other word processors for the list of shorthand, keyboard macros created by a particular user. See glossaries in this publication and The Computer Glossary. is at the back for reference, and reproducible charts and forms are included. Circle 183 on Reader Service Card |
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