Question

Objective of Not-For Profit Organization..?
Give 5 objectives.

Answer 1

Answer:

Following are some objectives for accounting in not-for-profit organizations:

1. To evaluate the performance of organizations in terms of achieving their goals for which they were created.

2. To judge whether those organizations are appropriating the funds with three E’s viz. economically, effectively and efficiently.

3. To examine the compliance of rules, regulations, bye-laws in the organizations.

4. For obtaining grants from government departments.

5. To submit annual accounts to the Registrar with whom they are registered.