Non-Profit Versus Profit
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See attached file for March of Dimes financial statements.
List the differences and similarities between the not-for-profit statements and those of organizations operating for profit.
Examine the unrestricted, temporarily restricted, and permanently restricted funds. List the types of donor-imposed restrictions and how these restrictions and their releases impacted or could impact the fund balances of the organization.
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Solution Summary
This solution briefly characterizes the differences between for profit organizations and non-profit organizations in the make-up of the financial information.
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Not for profit statements are slightly different from for profit statements due to the differences between the different kinds of entities involved. There are also differences between different categories of not-for-profit organizations. The differences being no profit motive, bottom line then becomes a measure of change in assets, the reflection of donations rather than earnings.
One difference between not-for-profit and for profit organizations are the names of the accounts. Replacing the owners equity are unrestricted, temporarily restricted and permanently restricted funds.
Most not-for-profit entities have a Statement of Activities which is where the day-to-day ...
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