In this lesson, Nick Palazzolo, CPA, makes tackling questions on the non-for-profit statement of activities both engaging and digestible. With a focus on classification essentials, Nick helps demystify where each item belongs, whether as program services or supporting services. He also sheds light on the nuances of reporting management and general expenses, supporting the understanding with practical examples. Furthermore, Nick clarifies what should never be netted together in the statement of activities, using a conversational approach that brings clarity to potentially complex scenarios. This lesson is an excellent resource for getting a solid grip on the intricacies of non-profit accounting.
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