What is fund accounting? How does it compare to proprietary accounting? Why is it necessary? What are the major fund types? Use the following website, www.charitynavigator.org, find a charities financials and identify the various aspects such as excess of revenues over expense. Then pick one of the worst and compare.
Fund accounting is the accounting system used by non profit organizations and the government and its different entities to account for its activities and transactions.
This type of system is necessary because these organizations have special financial reporting needs particularly the need to show how they spent their ...
This solution of 209 words defines the characteristics of fund accounting and lists the six major fund types. It also looks into a fund type case study and analyzes its revenues and future outlook.