accrual basis accounting

If your not-for-profit periodically prepares internal financial statements for your board, you may have noticed that your auditors propose financial adjustments to these interim statements at year end. Why do auditors do this? Generally, it reflects differences due to cash basis vs. accrual basis financial statements. But you can help minimize the need for such financial adjustments.

man in a suit looking at graphs and stats on a tablet; image used for blog post about not-for-profits minimizing financial adjustments

Here’s how.


Continue Reading How to Minimize Needing Year-End Financial Adjustments