EFTs are one of the more popular payment options for moving money around the world. They are accessible to businesses of any size, straightforward to use, and eliminate the need to send paper checks or cash anywhere. Instead, you might need the country’s currency, a card with specific international capabilities, traveler’s checks, or a wire...Read More

Meanwhile, should the federal government discover discord between the organization’s financial records and the documentation submitted by employees or vendors, the audit process could very well kick in. Beyond these contingencies, any time nonprofit organizations seek abatement or money back from the IRS, an IRS agent may count these as red flags and invoke the...Read More

Another reason CBA is vital is its role in fostering transparency and accountability. By clearly documenting the rationale behind a decision, including all assumptions, costs, and benefits, it ensures that stakeholders understand the basis for the choice. This is particularly critical in public projects or corporate investments where multiple parties are net sales involved and...Read More

Nonprofit organizations continually grapple with maintaining and improving their operations, especially in today’s volatile economy and a rapidly changing world. They must constantly strive for sustainability, and an essential part of that quest is proper budgeting. Unfortunately, it often excludes people outside an organization’s finance team. Similarly, the budget is often too focused on the...Read More

While these aspects are key, they revolve around the central theme, that is, the effective management of the organization’s finances. Ultimately, the proven ability to successfully manage the fund balance can impact future funding from donors as they seek transparent, fiscally responsible organizations. Set up a logical filing system that anyone can understand, and always...Read More

Principles of Economics provides students with the knowledge they need to be successful managers, including basic economic theories related to markets and how markets function. This course starts by defining economics, differentiating between microeconomics and macroeconomics, and explaining the fundamental economic principles of each. It then looks at microeconomics and how it is used to...Read More