Nonprofit organizations - 20923

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Nonprofit organizations

 

Answer the following questions in 200 to 300 words: Nonprofit organizations are required to produce financial statements based on the accrual method of accounting.

·         How is this different from the cash basis of accounting?

·         Why is accrual accounting important?

·         In an accrual system, does revenue equal cash?

·         What is the importance of the statement of cash flow in the financial management of an organization?

 

 

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