Bookkeeping for Nonprofits
By Murray Dropkin and James Halpin; 272 pages; published by Jossey-Bass
There once was a time when Enron was just another big corporation. Today, its downfall serves as a cautionary tale to number crunchers everywhere. The lesson learned? Don't fudge the books. Better yet, be sure your financial records are in perfect order - reliable, accurate, and ready to present to the auditor, whenever he or she comes knocking. This is especially true for nonprofit organizations. Not only are they accountable to a wide range of stakeholders, but they are also subjected to much more public scrutiny than the average for-profit company. For these reasons alone, good accounting practices are essential and that's where Bookkeeping for Nonprofits comes in.
Murray Dropkin and James Halpin certainly know what they are talking about, and luckily they convey this information in a way that is easy to understand, even for someone who is new to the realm of accounting. They not only explain the how-tos of bookkeeping but also the whys, so that nonprofit organizations can make informed decisions about which methods and accounting practices they should adopt. Whether it's recording income and purchases, dealing with payroll, preparing the month-end close, or creating an operating budget, the authors offer step-by-step guidance, complete with checklists, illustrations, and samples. And they achieve all of this while still avoiding the technical jargon and complex explanations that often plague other accounting texts.
The financial health of an organization determines how well it can carry out its mission. Fiscal efficiency leads to organizational effectiveness and Dropkin and Halpin know this. They've created this guide to help even the smallest grassroots organizations get their books in order, whether they have previous bookkeeping experience or not. And although there is a particular emphasis on the financial requirements and regulations for US-based organizations, the fundamental principles and practices still apply regardless of location. If you've been avoiding dealing with the financial records for your organization because the task just seems too daunting, now is the time to take action, armed with the thorough yet highly accessible information offered in Bookkeeping for Nonprofits.
Buy the book:
Canada: buy through Amazon.ca: CDN$38.99
International: buy through Amazon.com: US$30.00
