Got a tricky question? Receive an answer from students like you! Try us!

FINANICAL MANAGEMENT IN NONPROFIT ORGANIZATION - Term Paper Example

Masters
Term Paper
Finance & Accounting
Pages 10 (2510 words)
Download 1

Summary

Financial management in Non Profit Organizations Name of the Student University Executive Summary The need to portray effectiveness in any kind of organization requires the utilization of resources and transforms them into valuable products, services and offerings…

Extract of sample
FINANICAL MANAGEMENT IN NONPROFIT ORGANIZATION

The report is prepared with the sole intent to study the various financial management practices in a non-profit organization. The author of the study will highlight the various financial management practices that ensure smooth operations of the business. It also highlights the difference in the financial management practices between profit and nonprofit organizations. The author of the study will also provide certain inputs which will help in the betterment of the nonprofit organization and help in achievement of goals and objectives. It was essential to conduct this study to understand the impact of financial management practices on the organizational performance of NPO. Introduction: Financial Management in Non-Profit Organization Nonprofit organizations form an essential part of the society and exist to provide certain benefits for the members of the society. They actually vary in size from large to small clubs and the operations are based on receipt of grants, donations, fundraising or receipt from members as the principal source of income. In certain instances nonprofit organizations (NPO) supplement income with the trading activities. Although, NPO operate on a nonprofit basis suitable practice of financial management ensures that there are sufficient resources and cash meant for operations of NPO. ...
Download paper
Not exactly what you need?

Related Essays

Tate & Lyle plc finanical valuation
The intention of this study is Tate & Lyle as one of the fines when it comes to global provider of ingredients and solutions to the food, beverage and other industries. The company is a British based agribusiness and is listed on the London Stock Exchange. Owing to its resilient management and state of the art production techniques, the company’s financial outlook appears to be strengthened and it has been a constituent of the FTSE 100 index as of June 20, 2011. The company was formed in 1921 as a result of the merger between the two giant names in the sugar refineries business i.e. Henry…
76 pages (19076 words)
THE ORGANIZATION
In this case study, the father son duo have diametrically opposite leadership styles, wherein the father ‘Peter’ believes in an extremely friendly business environment marked by ‘Participative’ leadership, the son ‘Joseph’ is seen to portray the typical character of an ‘Autocratic’ leader. It is stated that Peter is a man of charisma and has a dynamic personality; some scholars like Rowe and Guerrero argue that charisma is a necessary condition for leadership (Rowe and Guerrero, 2011, 260). A charismatic leader can ensure that the workforce will follow in his footsteps, and…
7 pages (1757 words)
Financial Management in Nonprofit Organizations
urban, sub-urban, rural area. Most of the non-profit organizations are small in size. For-profit organizations are basically profit motivated. They do not depend on funds or donations but depend on other sources like loans, debentures, ventured capital and leasing among others. The accumulated profit is divided among the stockholders themselves rather than investing it in the company. Both the organizations have their own mottos and goals. The paper intends to discuss the financial management in the non-profit organizations. Also, the study aims to compare the management of finance in…
9 pages (2259 words)
Financial Management in Nonprofit Organizations
As for example, social service organizations are required to be more specific with their financial reporting practices so as to comply with the existing rules and regulations. Next, religious nonprofit organizations have vital issues related to the complex requirements of its memberships. Management of finances in nonprofit organizations is quite a challenging task. The sources of revenues of nonprofit organizations are very much vulnerable to changes in political environment or economic issues. Nonprofit organizations being accountable to public require more accurate and reliable presentation…
Financial Management in Nonprofit Organizations
The researcher found some key differences between the financial systems of both types of organizations. Those differences were mainly related to the sources of finance and its use by the organizations. The main difference that gives rise to all other differences is the motive of both organizations. The motive of the owners of for-profit organizations is to earn higher amounts of money to bring it in personal use. On the other hand, the motive of the management of not-for-profit organizations is to help people and society in resolving key issues. Such organizations get money to use it for the…
7 pages (1757 words)
Financial Management in Nonprofit Organizations
Several performance measure indicators are also discussed and they have a deep co-relation with how the initial funds are generated. Performance indicators of both the types differ slightly but this is the only aspect in which most general finance principles can be applied to both. Finally, we looked at how corporate governance is ensured for nonprofits yet they lack in strong monitoring as the real focus of government, agencies and creditors is on how for – profits are performing. Financial Management in Nonprofit Organizations Financial Management for nonprofit organizations has many…
8 pages (2008 words)
Financial Management in Nonprofit Organizations
Another important difference in the financial management of the two types of organizations is the constraint of non distribution. Nonprofit organizations cannot distribute the profit generated to the owners. Nonprofit organizations do not have any owners. Thus the people who fund the organizations do not necessarily gain any kind of control over the firm. The nonprofit organizations have board just like profit making organizations. Although there is one major difference, that the boards of the nonprofit organizations are self appointed. Thus the board members are not accountable to the…
6 pages (1506 words)