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How do non-profit/charity hospitals such as Children's or St. Jude process their financial/accounting info? 

How do non-profit/charity hospitals such as Children's or St. Jude process their financial/accounting info? 

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Answer #1

The non-profit organizations need to maintain financial statements such as Statement of Financial Position, Statement of Activities and Cash Flow statements as per the requirements of the Financial Accounting Standards Board (FASB).

Using these statements, the non-profit can collate their financial information and present as well as analysis their financial situation. Also, these non-profits can also use financial and enterprise planning software to record and process their financial information and then further processing and analysis is also done using spreadsheets and other analytical tools.

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