Bus560

In: Business and Management

Submitted By tmlawrence1978
Words 396
Pages 2
ou have been appointed the treasurer of a local not-for-profit organization. You would like to improve the quality of the organization’s financial reporting to existing and potential donors.

o Describe the kinds of financial statements you would like to see the organization’s accountant prepare. o Analyze how better quality financial statements might help reassure donors.

If I was a treasurer of a local not-for-profit organization I would use balance sheets, income statement and statement of cash flow. I would use the balance sheet because it shows the company financial position at a particular time. It’s a snap shot of the companies of a company assets and liabilities. The income statement shows the cash flow of the company financial resources such as cash on hand, net sales and gross profits. The income statement is a summary of the company financial performance for a given month or period. Finally the statement of cash flows shows the company financial resources and the cash during a period of time. The statement of cash flows provides stockholders and creditors with pertinent information about a firm’s cash receipts and cash payments for its operations, investments and financing during an accounting period. Better quality financial statements might help show donors that the funds for the organization is being well managed. As the Treasurer I show donors a flawless record of both good management.

From Case Study 15.2, from a business standpoint, analyze the advantages that BDO enjoys from belonging to a large, international group. Provide examples and a rationale with your response and discuss the implications of these benefits for an organization you plan to start. Determine what you would expect from BDO if you were a customer.

BDO has an advantage over its competitors because they have been providing financial services for over 40 years.…...

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