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1. Nonprofit Financial Statements do not include a Profit/Loss Statement whih is an important financial statement...

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General Management

1. Nonprofit Financial Statements do not include a Profit/LossStatement whih is an important financial statement in theFor-profit sector and is important for reflecting how well abusiness performed during the reported period. If a perspectivedonor asked you for this information for your nonprofitorganization, how would you respond and what FinancialDocumentation would you use to present your nonprofits "FinancialPerformance"?

2. Discuss the purpose of the following nonprofit financialstatements and what purpose they might serve in presenting yourorganization's financial standing to your board and potentialdonors: Statement of Financial Position, Statement of Activities,Statement of Cash Flows, and Statement of Functional Expenses

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1Despite not having the necessity of publishing an annual financial report with its Profit and Loss statement NonProfit organizations need to furnish some financial information pertaining to their operations to prospective donors Some of the information and means of presentation would be as follows 1 The financial picture of the organization the way the organization spends its way The organization should be capable of showing the list of all programs the organization has invested in    See Answer
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