Category Archives: Bookkeeping

Cost Allocations and Preparing a Statement of Functional Expenses

This can be accomplished by developing cost centers within your accounting records for each program or grant. This helps ensure that costs are properly allocated throughout the year and allows for the easy creation of programmatic trial balances/statement of activities which can be used for grant vouchering. For some not-for-profit entities (NFPs), a separate statement…

accrual accounting vs cash basis accounting 3

What Is the Difference Between Cash and Accrual Accounting? The last thing you want to do is dive right into a method that’s too complex for your business and that you do not have time to learn. Weigh your options beforehand to avoid stressing out about your books and making accounting errors. If you’re not required…

Certified Public Accountants Office of the Professions

Another benefit of becoming an accountant is the high level of job security and the growing demand for these professionals. The employment of accountants and auditors is projected to grow by 6% from 2023 to 2033. This percentage is faster than the average for all occupations, as approximately 130,800 new accounting positions will open annually…