Individual Accounting Short-Answer Questions

Resource: Financial Management for Human Service Administrators

Write 200- to 300-word responses to the following questions:

·         What are the major accounting differences between nonprofit and for-profit organizations?

·         Why are audits becoming increasingly important in the nonprofit sector? Cite at least three reasons.

Complete Exercises 4.1–4.3 in Ch. 4 of Financial Management for Human Service Administrators.