Understanding Business
Understanding Business
13th Edition
ISBN: 9781264249527
Author: Nickels, William G.
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 17, Problem 3DCS
Summary Introduction

To discuss: The need for effective financial reporting in achieving fund raising goals of a not for profit organization.

Introduction: Not for profit organization is an organization that if formed for the charitable purposes instead of making profits. Financial reporting refers to reporting current status of the entity’s assets, liabilities, capital, receipts, payments and earnings.

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