Not-for-Profit Accounting Made Easy this question feed

asked by willie on November 27, 2006 7:11 AM
A practical, introductory guide to the fundamentals of not-for-profit accounting

Not-for-Profit Accounting Made Easy focuses on accounting fundamentals for those who run financial and accounting operations in not-for-profit organizations but do not have a professional understanding of accounting principles and financial reporting. It explains complex accounting rules in terms nonaccountants can easily understand in order to help them better fulfill their managerial and fiduciary duties. Always practical and never overtechnical, this helpful guide conforms to FASB and AICPA standards and: Shows how to read and understand a not-for-profit financial statement Explains financial accounting and reporting standards Helps managers and other nonaccountants become conversant in the rules and principles of accounting Updates board members, executive directors, and other senior managers on the accounting basics they should know for day-to-day operations Features tables, exhibits, and charts that illustrate the content in a simple and easy-to-understand manner

Suitable for fundraising managers and executives-as well as anyone who needs to read and understand a not-for-profit financial statement-this is the ultimate not-an-accountant's guide to not-for-profit accounting.


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The author wrote this book assuming that non-financial people need to understand accounting, making this easy to read and understandable. Having gone through a college course on accounting, and being forced to use three other books (which were also worthless), I only wished I read this book first. Although it's designed for not-for-profit organizations, it explains the differences with for-profit organizations, and explains why certain things can be done, or can't be done. For anyone who is starting fresh, starting a new company, or planning on taking accounting in college, I would strongly recommend you invest $30 (my accounting textbook was over $100) and the first chapter alone, summarizes the the first 10 chapters of several college textbooks.
reviewed by shakeonit on November 28, 2006 10:51 AM

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This book is not for bookkeepers. It is more for accountants who want to understand non-profit accounting. If a bookkeeper needs to know the proper day to day and month to month entries for this kind of organization, than this book is not for you.
However, if you are an accountant, you may be able to glean good information about the basic philosophy of non-profit organizations, such as account set-up and reporting.
reviewed by linda on November 29, 2006 12:19 PM

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Reads like a law textbook. Author often uses three sentences where one would do. Much ink is wasted telling the reader "we won't go into that here, but Chapter "X" deals exclusively with that." Concepts are understandable for those with an accounting background, but definitely would not recommend to someone without a solid grasp of accounting fundamentals. Author should have hired a writer to help him smooth out his writing style. Not recommended.
reviewed by vladi on November 29, 2006 6:09 PM

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If you are looking for a straightforward, easy-to-read explanation of not-for-profit accounting, keep looking. I ordered this book recently and while the first chapter provides some useful defintions, the rest of the book is mind-numbing. In fact, I gave up after chapter 3. If you have to re-read paragraphs two and three times to understand what the author is trying to say, then it's not "accounting made easy."

In addition, the examples of financial statements only offer "XXX" rather than actual numbers. Samples with actual numbers would have been much more useful.

Charity Channel (www.charitychannel.com) also gave this book a negative review.

There are better guides out there.

reviewed by skywalker on November 29, 2006 6:51 PM

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This book is exactly what I (as a newly-minted board member) needed to help me figure out some of the oddities and kinks in nonprofit financial reports. Information is presented clearly and logically.

Only two little problems kept me from awarding five stars.

1. If you have no accounting background at all, you may find it difficult to make sense of some parts of the book. At several points, a general familiarity with accounting concepts and terms is assumed. I had taken an introductory accounting class a few years ago at a community college, and with that background, had no trouble at all with the book. I suspect that if I'd read this book before taking that class, I would have given up in hopeless confusion after the first chapter. Be warned.

2. The book contains examples of financial reports. That's good. Unfortunately, it shows all the dollar amounts as "$XXXX.XX" or similar. That's bad. It would have been much better to construct an example with actual numbers, so the reader could see which numbers flowed where.

If you know even a little bit about accounting, and you are involved with the finances of a nonprofit organization (staff, board, major donor), this is a valuable resource.

reviewed by scoobie on November 29, 2006 7:21 PM

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