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Accounting for Non-Profit Organizations (ACC471/SKI)
Instructor: Ricardo Payro Due date: July 18, 21
Find recent financial statements for a non-for-profit organization of you’re choosing (Statement of Financial Position (Balance Sheets), Statement of Activities (Income Statement), Statement of Cash Flows.
I. Provide a brief description and the stated objective of the non-for-profit organization you chose.
II. Using the information provided in their statements answer the following:
1. Do you think the organization is efficient in the achievement of its stated objective? For example, analyze the service produced/provided compared to costs incurred to produce/provide the service; compare fundraising income to amounts spent on fundraising and compare where total available resources end up by type of expense.
2. What is your opinion of the organization’s financial strength? For example, compare total liabilities or total assets with net assets, and look at its cash flow and projections.
3. Do you see any significant financial trends by: looking at a simple line item as a percentage of total revenue or expense and by comparing prior periods with the current period.
USE THE INFORMATION PROVIDED IN THE FINANCIAL STATEMENTS TO SUPPORT YOUR ANSWERS. “I do not think the organization is efficient” is not an acceptable answer, your answer must be supported by the information provided in the financial statements.