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Alliance for Nonprofit Management
1899 L Street NW 6th Floor
Washington, DC 20036

t 202 955 8406
f 202 721 0086

info@allianceonline.org

Frequently Asked Questions

Financial Management

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Click here to find a consultant or service provider that specializes in financial management (choose finance and administration as a field of concentration).

Questions

  1. What are the elements of an accounting system?

  2. What are the differences between nonprofit and for-profit accounting?

  3. How do we develop functional expense classification?

  4. How can we allocate indirect costs to programs?

  5. What is the difference between cash basis and accrual basis accounting?

  6. What should our chart of accounts include?

  7. What is depreciation?

  8. What is the unrelated business income tax?

  9. What accounting software package should we buy?

  10. What is an audit?

  11. Should we get an audit?

  12. What is an A-133 audit?

  13. How do we prepare for an audit?

  14. What is tax deductible for membership dues, special events, and other fundraisers?

  15. What information are we required to provide to individual donors?

  16. How do we account for pledges?

  17. How should we invest our short-term cash balances?

  18. What is the board's responsibility in investment?

  19. What is cash flow and how should we manage it?

  20. How much cash should we hold in reserve?

  21. How do we prepare a budget?

  22. What internal controls are needed for cash disbursement?

  23. What is petty cash and how should we handle it?

  24. What internal controls are needed for payroll?

  25. What is an internal accounting control system and how can we make ours effective?

  26. What financial statements are nonprofits required to issue?

  27. What financial reports do management and the board need?

  28. How do we interpret our financial statements?

  29. Is there a way to just show a figure for "net fundraising events" rather than listing each event under both income and expense?