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Business practices that not-for-profits can’t afford to overlook Logo aicpa

  Maria L. Murphy, CPA |   Free |   AICPA |   01 May 2016 |   Journal of Accountancy

This article describes eight top business practices that all not-for-profits should consider implementing.

Topics covered:
  • Not-for-profit: Technical: Governance, Intermediate

1 Comments/Reflections

Lalit Bhandary

Lalit Bhandary Jul 2016

I can relate this article more closely as I have been working for Not For Profit Organisation for last 5 years in The Netherlands.

The challenges are immense in NFP  than in Profit Organisation. Basically the business variable is so dynamic, no standardisation, the end product are so intangible and measuring the outcome, results are very challenging.

I like when the article says that ' Not-for-profit status is a tax strategy, not a business plan' and on the marketing aspect.

Normally financial professionals think NPO sector has no challenges, they are completely incorrect. My experience with NPO spiked up my learning curve even after working for 18 years with automobile company.

My aim is to read as much article as possible on NFP.