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Strategic Accounting – tracking the information you need
Nonprofit Executives frequently analyze how the organization’s resources are being used to help evaluate programs and activities. Grant program reports require that grant costs and overhead be reported regularly. Separating program costs by hand is a time consuming process. Fortunately, activity costs can be separated right in the accounting system using cost centers and reports can be prepared showing the costs of that activity alone. Overhead costs, the costs of keeping the doors open, can be spread among the programs that take up the space and time, showing how much the organization’s activities really cost. With proper set-up, this information can come right out of your accounting system for strategic analysis and program reporting.
In this on-demand webinar session, participants will learn about the management information that can be gained by using cost centers, the concept of cost allocation and practical strategies for making it happen in your organization.
Field of study: Accounting