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What is Accounting for Non-Profit Organizations about?
1. Not-for-profit organizations classify net assets into three categories: unrestricted, temporarily restricted, and permanently restricted based on donor restrictions. They recognize revenue using the accrual basis of accounting. 2. The two major sources of revenue are contributions and regular operating revenues such as tuition, patient services, membership dues, and program fees. Contributions are considered non-exchange transactions and are subject to donor-imposed restrictions. 3. Financial stateme
- Author
- LJ Aggabao
- Language
- EN