Great content! I found it very useful. Even though the slides were not in sync I was able to take the notes by rewinding then play again to hear the audio.
0:38 3 Main Nonprofit Accounting Questions 1:18 Accounting? 5:48 What Is Fund Accounting? 8:57 How to keep track of the organization's finances 21:37 3 Primary Nonprofit Reports According to IRS 25:52 Recap
Since the audio and slides aren't in sync, i just put two tabs. so i got two tabs playing this same video and i was able to sync them up (turning off the audio of one of course haha) great video though!
It seems like the slides were off. For example, as you were talking about Asset line items, the Liabilities slide was showing. Made it hard to follow along. Just letting you know. Really great content though.
Would you recommend not having 2 different banks with separate bank accounts be advisable? (One is in South Carolina but most of the board is in Washington.
At 22:45 - is that really supposed to say "total liabilities and equity = 19,000?" I thought liabilities were sort of a negative number. Or is that just a way of checking the math?
Nonprofit people. Does your accounting department track finances by grant or program? For example, grant 100 will pay for a vaccine program and a diabetic program. So in the P&L, is everything listed under 100 or by program with 100 grant as a line item for funding?
Hi Lydia! Yes, they typically do. They have to meet certain criteria, but generally yes. We have a webinar on fixed assets that go more in-depth on this topic: attendee.gotowebinar.com/recording/2808275153710781185
Why is the accounting equation written as Assets = Liabilities + Equity... It actually makes more since to be written as Equity = Assets - Liabilities, even though both mean the same thing.
The Owner's Equity is defined as 'Equity = Assets-Liabilities'. This equation calculates ownership interest. The accounting equation ' Assets=Liabilities+Equity' calculates the relationship between the different accounts. Both equation have different meanings.
Also assets increase w debits and liabilities and equity increase w credits. The two sides of the equation should balance one another out. Debits should be equaled to credits
Very helpful for me.... I am tranistioning from a For Profit background to Non Profit.
Great content! I found it very useful. Even though the slides were not in sync I was able to take the notes by rewinding then play again to hear the audio.
0:38 3 Main Nonprofit Accounting Questions
1:18 Accounting?
5:48 What Is Fund Accounting?
8:57 How to keep track of the organization's finances
21:37 3 Primary Nonprofit Reports According to IRS
25:52 Recap
Watched four videos and finally you explained it where I could understand! LOL
Thank you for this. I really appreciate it.
Thanks for the information. Very good presentation.
Sign-up for my free accounting course for nonprofits here: aplos.us/accounting-courses
Since the audio and slides aren't in sync, i just put two tabs. so i got two tabs playing this same video and i was able to sync them up (turning off the audio of one of course haha) great video though!
You explain concepts very well.
Thank you! Let us know if you have any questions!
It seems like the slides were off. For example, as you were talking about Asset line items, the Liabilities slide was showing. Made it hard to follow along. Just letting you know. Really great content though.
This was really helpful, thank you!
Excellent
Great video thanks!
What great content! Is there a version of this where the slides are aligned with the speech?
bars
Would you recommend not having 2 different banks with separate bank accounts be advisable?
(One is in South Carolina but most of the board is in Washington.
Thanks
the slides are off and hard to follow. is there a way to obtain a copy of the slides?
At 22:45 - is that really supposed to say "total liabilities and equity = 19,000?" I thought liabilities were sort of a negative number. Or is that just a way of checking the math?
the slides do not follow the voice for me. it makes it difficult to follow
i am confused by the reference to a student loan on a nonprofit instruction - could there be a better example?
Nonprofit people. Does your accounting department track finances by grant or program? For example, grant 100 will pay for a vaccine program and a diabetic program. So in the P&L, is everything listed under 100 or by program with 100 grant as a line item for funding?
Does what you have in your "bank account" count toward equity or do you need to have it in a fund
Do assets such as vehicles, furniture and equipment get capitalized for nonprofit?
Hi Lydia! Yes, they typically do. They have to meet certain criteria, but generally yes. We have a webinar on fixed assets that go more in-depth on this topic:
attendee.gotowebinar.com/recording/2808275153710781185
are assets in this example ONLY cash?
This would be great if the audio were synched. Too bad it's not.
Why is the accounting equation written as Assets = Liabilities + Equity... It actually makes more since to be written as Equity = Assets - Liabilities, even though both mean the same thing.
The Owner's Equity is defined as 'Equity = Assets-Liabilities'. This equation calculates ownership interest. The accounting equation ' Assets=Liabilities+Equity' calculates the relationship between the different accounts. Both equation have different meanings.
Also assets increase w debits and liabilities and equity increase w credits. The two sides of the equation should balance one another out. Debits should be equaled to credits
Slides dont match presentation