Critical Issues in Financial Accounting Regulation for Nonprofit Organizations

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Legal regulations
Published guidelines
Revenue
Revenue from public support
Revenue from exempt-purpose activities
Other revenue (and UBIT)
Expenses
Program services
Fundraising
Operations
Joint costs allocation
Excess benefits transactions (intermediate sanctions)
Other resources

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Although there are few laws or regulations that directly state how nonprofit organizations must operate their finances internally, there are many that have a strong indirect impact. These indirect influences include IRS reporting requirements and the accounting standards most funding agencies require supported organizations to follow. In practical terms, these "recommended" standards all but demand certain accounting and other financial practices be followed by nearly all nonprofit organizations.
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Non-Profit Accounting

All About Financial Management in Nonprofits

© Copyright Carter McNamara, MBA, PhD, Authenticity Consulting, LLC.
Applies to nonprofits unless otherwise noted.
New nonprofit leaders and managers have to develop at least basic skills in financial management. Expecting others in the organization to manage finances is clearly asking for trouble. Basic skills in financial management start in the critical areas of cash management and bookkeeping, which should be done according to certain financial controls to ensure integrity in the bookkeeping process. New leaders and managers should soon go on to learn how to generate financial statements (from bookkeeping journals) and analyze those statements to really understand the financial condition of the business. Financial analysis shows the "reality" of the situation of a business -- seen as such, financial management is one of the most important practices in management. This topic will help you understand basic practices in financial management, and build the basic systems and practices needed in a healthy business.
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LOTS and LOTS to read here!