Understanding Nonprofit vs. For-Profit Accounting: Myths Debunked

Tosha Anderson, CEO of The Charity CFO, talks about why 90% of nonprofit accounting and for-profit accounting are very much the same and identifies the core differences that trip people up.

In this enlightening video, we debunk the myth that nonprofit accounting is vastly different from for-profit accounting. As a seasoned CPA experienced in both sectors, we highlight the striking similarities and crucial differences that exist. Discover why nonprofits often operate on an accrual basis rather than cash basis accounting, and why tracking revenue and ownership (or net assets) differs significantly between nonprofit and for-profit entities. Whether you're new to nonprofit finance or seeking clarity on financial practices, this video provides essential insights into navigating accounting standards in both sectors. Join us to demystify nonprofit accounting today!
Catch the full podcast here: