ACC101 – Fundamentals of Nonprofit Accounting: Nonprofit vs. Not-for-Profit

Course Level: Basic
Recommended Prerequisites: None
Instructional Method: Recorded Session
Recommended CPE Credits: Not Eligible for CPE
Access Period: 60 days from Purchase
Estimated Time to Complete: Two Minutes

The three-part Fundamentals of Nonprofit Accounting series provides accountants and other professionals with an overview of nonprofit accounting terminology and reports. This first installment discusses common terminology related to nonprofit organizations.

The content in this video does not constitute accounting advice. If you have questions regarding generally accepted accounting principles, processes, or procedures we recommend that you contact a Certified Public Accountant.

By the end of the session, you will be familiar with:

  • The different usages of the terms ‘Nonprofit’ and ‘Not-For-Profit’.
  • How the IRS makes the distinction.
  • Several types of ‘Nonprofit’ Organizations.
  • The different IRS classifications of ‘Nonprofits’.