Nonprofit organizations submit financial statements to government authorities, lenders and investors just like their for-profit counterparts, although the focus of the financial statements is ...

Nonprofits use four main financial reporting statements: balance sheet, income statement, statement of cash flows and statement of functional expenses. Three of these are similar to common for ...

As the bridge between a nonprofit’s operations and its stakeholders, financial statements can be a powerful storytelling tool. Traditionally, financial statements provide transparency ...

Nonprofits will need to change the way they report information about net assets, expenses, and other items in annual financial statements in fiscal years starting in 2018, the Financial Accounting ...

P&L statements provide financial information that can be compared to that of rivals in the same industry. Investors and lenders use P&L statements to inform their investing or lending decisions.