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One of the factors on Government &Not for Profit entities is the concept of working to...

One of the factors on Government &Not for Profit entities is the concept of working to be on budget. It is not a goal to have revenue over expenses by a large amount. Consequently, the objectives of the financial statements if the reporting on Budget, actual, and variances. The focus is on economic resources and their uses?

What else might be a difference in Government &Not for Profit and for profit entities?

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Answer #1

The NGO is a non-governmental organization. Its funds are raised by the government, but it maintains a non-governmental position, with no need for a government council. They are also known as civil society organizations.

A non-profit organization uses its extra funds for the purpose of the organization, rather than dividing it between the shareholders and the owners of the organization. Examples of NPOs are public arts organizations, trade unions and charitable organizations.

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