Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Government & Non-Profit

What does the accounting statements of ngo's look like?


What does the accounting statements of ngo's look like?

The question lacks clarity and all accounting statements look alike !!.

The annual statements of accounts does not reflect any profit or loss as they are service oriented !!
BALANCE SHEET

Assets:
. Current assets
. . Cash and cash equivalents $X
. . Pledges receivable $X
. . Grants receivable $X
. . Other receivables $X
. . Prepaid expenses and deposits $X
. . . Total current assets $X
. Property and Equipment, Net $X
. . . Total assets $X

Liabilities and Net Assets:
. Current Liabilities
. . Accounts payable and accrued expenses $X
. . Notes payable $X
. . Deferred revenue $X
. . . Total current liabilities $X
. Long-term liabilities
. . Deferred rent $X
. . Other long-term liabilities $X
. . . Total long-term liabilities $X
. . . . Total liabilities $X
. Net assets
. . Unrestricted $X
. . Temporarily restricted $X
. . Permanently restricted $X
. . . Total net assets
. . . . Total liabilities and net assets $X

Note: Net Assets are often categorized as:

* Unrestricted: may be used immediately
* Temporarily Restricted: may be used after satisfying a set of restrictions
* Permanently Restricted: may never be used direcly, except to generate investment income

These restrictions are set by the donor.

~

INCOME STATEMENT

Revenue and Other Support:
. Federal grants $X
. Other grants $X
. Contributions $X
. Special events $X
. Membership dues $X
. Interest income $X
. . Total revenue and other support $X

Expenses:
. Program services
. . Program A $X
. . Program B $X
. . Program C $X
. . Program D $X
. . . Total program services $X
. Supporting services
. . Management and general $X
. . Fundraising $X
. . . Total supporting services $X
. . . . Total expenses $X

Change in Net Assets $X
Net Assets Beginning of Year $X
Net Assets End of Year $X

~

In response to "Venki" above:

Financial statements DO look different depending on the nature of your business. An NGO's financial statements would look quite a bit different from those of a manufacturer or a merchandiser.

Also, NGO's absolutely DO have losses or gains. Any time expenses exceed revenue, there is a loss. And any time revenue exceeds expenses, there is a gain.
NGO accounting is my job!
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