NP's funds that are set back, because the service has not been completed, yet
What is temporarily restricted funds
100
Operating funds of a np are like a ______ for an individual
What is checking account
100
What provides a snapshot of the organization at a point in time, usually the end of a fiscal year?
What is Statement of financial position
100
an uncertainty about the future event is called what?
What is A Risk
100
A political as well as a financial document that reveals an organizations "real strategy"
What is A Budget
200
This is also known as a rainy day fund
What is operating reserves
200
A nonprofit may have a board-designated endowment, which is like a_______ of an individual
What is retirement fund
200
What is like a video that shows the flow of revenues and expenses of the organization, and the resulting changes in net assets over a period of time?
What is Statement of Activities
200
what are the four categories of risks?
What is people, property, income, and goodwill
200
budget that concerns the purchase or disposal of long-term physical assets
What is Capital Budget
300
Many_____ refunds that are not intended to be spent-ever
What is endowments
300
Using ____ ____ financial transactions are recorded only when money changes hands
What is cash basis
300
What shows the flow of incoming and outgoing cash, enabling us to see how the cash amount changed from one year to the next?
What is Statement of Cash Flow
300
identifying scenarios that could negatively impact an organization and devising policies & controls to either prevent them from occurring or provide financial protection if one occurs is called what?
What is Risk management
300
tracks the flow of cash during the year
What is Cash Budget
400
The two types of endowments are board-designated and _______
What is quasi endowments
400
An example of ________ are things like cars and houses
What is physical assets
400
What statement shows how every category of expense was allocated amount the uses of program development, agency development, brand development, management and general, and fund-raising?
What is Statement of Functional Expenses
400
What two forms of policies are there?
What is prescriptive (state what must be done) and restrictive (limit or set boundaries on actions)
400
budget that tracks all revenues and expenditures
What is operating Budget
500
The board has no flexibility with this type of endowment
What is permanent or pure endowment
500
Physical assets are known as _______, because they are generally hard to sell
What is illiquid
500
What does the Statement of financial position summarize?
What is assets (items that the organization possesses) and liabilities (the amount of borrowed money, or debt, that the organization has used)
500
a process, affected by an entity's board of directors, management and other personnel that provides assurance in effectiveness & efficiency, financial reporting, and compliance with laws & regulations
What is Internal controls
500
a report that typically show-for each line item-the amount budgeted for the year, amount & percentage of annual budget for the item expended year to date, & comparison w/ amount spent in prev. year