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PDF Document on Nonprofit Accounting Basics Form

PDF Document on Nonprofit Accounting Basics Form

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[Music] in part one of the fundamentals of fund accounting we explained the three main characteristics of funds first there's the unrestricted fund that's where there are no strings attached to the money received by donors and funding sources so the management could use those funds for wherever it feels that they're needed in both program and support services your temporarily restricted fund means that money received by donors and funding sources has certain strings attached it can only be used for its designated purpose the final characteristic is the permanently restricted fund that's where the gift itself cannot be touched it must be invested and those earnings then used for the designated purpose such as a scholarship now that you know what fund accounting is let's talk about the misconceptions on what fund accounting isn't and the Imp proper use of funds for your nonprofit there are a lot of misconceptions on the proper implementatio

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