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Applying finance and budgeting to non-profit organizations

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How do you apply basic finance and budgeting concepts to a nonprofit organization? Please provide your references. Thanks.

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Solution Summary

This solution explains how the basic concepts of finance and budgeting are applied to a nonprofit organization.

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The basics of budgeting and finance would remain the same for a non-profit organization with the exception of the focus. The focus of budgeting and finance activities for a for-profit organization are based upon keeping the stock price high, pleasing investors, and keeping financial statements within a certain bottom line area in order to impress creditors. When we deal with a non-profit organization, the focus changes. We use ...

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