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This is a resource to help identify where to book office supplies expenses vs. food expenses.
Chart of Accounts
A new program budget is charged for the rental of the office space they utilize. This charge is categorized as which type of expense?
Occupancy Expense
The unique budget for the SMART workforce development grant, and the health promotion donations are an example of which type of accounting in action?
Fund Accounting
This is the acronym for the independent board responsible for interpreting the set of accounting rules.
FASB
Money that belongs to your organization but can only be spent on certain things.
Restricted Funds
Utilities, Food, & Travel are just a few example of what?
Expenses
General legal counsel expenses that show up in your program budget can be classified as which type of cost?
Indirect Cost
You don't receive a marketing bill until the end of the month, however you book a projected expense as marketing services are rendered because of this type of accounting.
Accrual Based Accounting
This tax form is filed yearly by all nonprofit organizations. The "nonprofit 1040."
IRS 990
Budgeted Profit & Loss statements for a projects next 3 years as also known as this.
Pro Forma Income & Expenses
An example of this word is when a monthly postage expense is charged evenly to all projects using a formula based on budget size.
Allocation
The new GED training program receives donor restricted funds. The cost associated with the direct mail campaign allocated to this budget could be classified as what type of expense?
Fundraising Expense
These activities are commonly referred to as "above the line" because they are critical in determining a programs surplus/deficit.
Operating Activities
Profit & Loss Statements, Balance Sheets, and Statement of Cash Flows are examples of this type of certified document.
Financial Statement
Donated money that can be spent on any of your organizations major programs.
Unrestricted Funds
Julie is a home ownership counselor for your org. Her salary and benefits are classified as this type of expense due to her contribution to the normal business operations.
Operating Expense
The program manager's salary is what type of cost for a program's budget?
Direct Cost
You pay an outside contractor at the end of the quarter for services rendered during that period. You recognize the expense at the end of the quarter. This is an example of which type of accounting.
Cash Basis Accounting
Commonly thought of as a pool of free money, this contributed asset is given with no reciprocal receipt of services. Also, the last name of a popular actor from across the pond.
Grant
Separation of Duties is an example of this frequent accounting department
Internal Controls
Congreso pays for a new billboard for brand awareness in the city of Philadelphia. The cost of this general promotion is which type of expense?
Management & General
Any money coming in or going out of an organization will be posted to the company's ...
General Ledger
This set of rules for accounting is also a popular clothing store.
GAAP
Grant funding that doesn't become available until a future year, but is earmarked for your organization.
LT Grants & Pledges Receivable
A CPA examining you financial records and transactions as a part of certifying your financial statements are correct.
Audit