posted by Sherill on Apr 22
personal.strath.ac.uk
About thirty percent of the businesses in the United States are non-profit organizations (NPO). Some of these NPOs include universities and hospitals. Specifically, some of the examples are World Wildlife Fund, Better Business Bureau, YMCA, and Red Cross. Do you think the managers of these organizations don’t need to use accounting information? They do.
These groups still have a budget as well as raise money just like any other business. One of the ways they do this is to collect from donors but at the same time, they also have creditors whom they need to pay back on a regular basis.