Individual Assignment: Accounting Short-Answer Questions
· Resource: Financial Management for Human Service Administrators
· Write 200- to 300-word responses to the following questions:
Please list each question and your response
o What are the major accounting differences between nonprofit and for-profit organizations?
o Why are audits becoming increasingly important in the nonprofit sector? Cite at least three reasons.
Finally, complete exercise 4.3 (ONLY)in Ch. 4 of Financial Management for Human Service Administrators. Note: This is a modified assignment from what is listed on the materials tab of the student web site. As I mentioned above, please take advantage of using this template before you get frustrated with this assignment. It is hard, and I am not looking for perfection with the numbers, but instead a good faith effort.
(The question is: Prepare a trial balance sheet for the Portland After School Program for the second six months of operation following the format shown in this chapter.)
(Also remember to attach the certificate or originality as a separate document when submitting this assignment)
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Trial Balance |
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June 30, 20XX |
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Debits |
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Credits |
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Cash |
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Arts and crafts supplies |
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Accounts receivable |
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Revenue |
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Investments |
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Accounts payable |
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Expenses |
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