What do you mean by not-for-profit organizations, Accounting Basics

Assignment Help:

Q. What do you mean by Not-for-profit organizations?

Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and account for funds received and disbursed. Although these agencies don't have a profit motive they must operate efficiently and use resources effectively. About 10,000 accountants are employed in higher education. The deeds of these academic accountants comprise conducting scholarly, teaching accounting courses and applied research and publishing the results and performing service for the institution and the community. Faculty positions subsist in two-year colleges, four-year colleges, and universities with graduate programs. A major shortage of accounting faculty has developed because of the retirement beginning in the late 1990s of many faculty members. Preliminary salaries will continue to rise significantly because of the shortage. You may possibly want to talk with some of your professors about the advantages and disadvantages of pursuing an accounting career in higher education.


Related Discussions:- What do you mean by not-for-profit organizations

Gearing, Remedies of overtrading

Remedies of overtrading

Accounting conventions, Accounting conventions The phrase 'convention' ...

Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions

Example of accumulated depreciation account, Q. Example of Accumulated Depr...

Q. Example of Accumulated Depreciation account? Along with other items the trial balance of Korman Company for 2010 December 31 includes the following account balances

Goal of financial reporting, Q. Goal of financial reporting? The second...

Q. Goal of financial reporting? The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assess

Company accounts- issue of debentures, Company took loans of rs 400000from ...

Company took loans of rs 400000from mbl and issued 8% debentures of rs 500000b as collateral security pass journal entries regarding issue of debentures if any and show the loan in

Define the accounting process, Q. Define the accounting process ? The a...

Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia

State about the balance sheet columns of worksheet, State about the Balance...

State about the Balance Sheet columns of worksheet Balance Sheet columns of worksheet would comprise the amounts from Adjusted Trial Balance columns which are assets, capital,

Importance of the bank statement, Importance of The bank statement Bank...

Importance of The bank statement Bank sends out bank statements each month. It's significant that this statement and checking account balance balances. There are certain items

Statement credit column of the work sheet, Revenues emerge in the Income St...

Revenues emerge in the Income Statement credit column of the work sheet. The two revenue accounts in the Income Statement are credit column for Micro Train Company are service reve

Explain the terms of payment, Explain the Terms of Payment Revolving ch...

Explain the Terms of Payment Revolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basis. Credit terms - allow purchaser a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd