Private not-for-profit accounting is closer to business than to government accounting.

Question

Quizplus · Accepted Answer

Private not-for-profit accounting is concerned with the financial operations of organizations that are not oriented towards generating profit, such as charities and universities. While there are some differences between private not-for-profit accounting and business accounting, the focus on financial performance and sound financial management is much more similar than it is to government accounting, which emphasizes accountability and compliance with regulations.

Private Not-For-Profit Accounting Is Closer to Business Than to Government