Accounts receivable (AR) is an asset account found on the Balance Sheet or Statement of Financial Position that represents money due to the organization from another party.
Petty cash is a small amount of cash kept on hand to pay for incidental expenses such as cab fare or postage, where it is not convenient to use a check or credit card.
The initial information for each employee and every change impacting payroll (terminations, overtime, compensation changes, employee deductions, etc.) will be in writing and appropriatel
Medium-sized nonprofit organizations may have the size and volume of activities that call for internal control systems in excess of the resources available to deliver such systems. This situation does not justify inadequate internal controls. It does emphasize the need to constantly evaluate the internal costs to make sure that scarce resources are best applied.
Expenses are allocated to show the total cost of activities, services, and projects. It is very important for the board and management to know the total costs of activities, s
