Objectives
• Identify the accounting needs of not-for-profit organizations, specifically membership and service organizations
• Identify the financial statements required by US GAAP, including recent ASU updates for not-for-profit entities
• Illustrate, using QuickBooks 2023 Desktop, the types of transactions usual for not-for-profit membership and service organizations
• Discuss the need for governance policies and budgeting in a not-for-profit membership and service organization