In 5 pages, the essay requires you to apply the concepts
order to provide a basic financial overview
of the activities performed by the Housing for All organization.
Housing for All Organizstion: Scenario The neighborhood that you live in suffers from an acute lack of affordable housing due to rising rents and the limited supply of housing units. To address this issue, you decide a start a human services organization called “Housing for All”, with a primary mission to promote affordable housing for the people in your neighborhood.
Since your organization is still in its early stages, you will be in charge of overseeing the financial and accounting transactions and recording. As you opened the organization’s bank account, the bank teller tells you that you will probably use the cash-basis accounting system initially.)
Discuss the importance of a sound financial decision making
for the organization in achieving its main mission and
objectives.
Housing for All organization uses a cash -based double-entry
accounting system.
Describe the main characteristics of such a
bookkeeping system.
Using a double-entry transaction, describe how a $100
donation in cash would be recorded in the
organization’s ledgers (provide a general description of
how the transition is recorded without mentioning any
specific account names or other accounting details).
Describe the relationship between the Balance Sheet and
Income statements and what kind of financial data is used to
construct each of the statements.
Discuss how the information provided by the Balance
Sheet and the Income Statement help you asses the
financial position of a human services organization like
Housing for All
At the end of the year, Housing for All financial statements
showed a cash position of $15,000, current assets of $40,000
and short-term debts of $20,000. The organization is concerned
that the cash on hand is not enough to cover the short-term
debts that are coming due very soon.
Propose a couple of financial strategies that would allow
the organization to increase its cash position to meet
the short-term debts obligations.
Briefly describe how financial, solvency and profitability ratios
can be used to improve the financial decision-making in the organization.
In your conclusion, write a brief statement regarding if what
you learned by doing this case assignment is applicable to
your current agency, NYC Administration for Children Services.
USE IN-TEXT CITATIONS TO SUPPORT YOUR RESPONSES. I’VE INCLUDED A LIST OF THE REFERENCES/READINGS THAT WERE RECOMMENDED FOR THE COMPLETION OF THIS ESSAY. UTILIZE THESE REFERENCES.
REFERENCES
Authors (2019), Financial Management. National Council of Nonprofits. Retrieved from: https://www.councilofnonprofits.org/tools-resources/financial-management
Authors (2018). The Importance of Community-Based Organizations in Human Services. Independent Sector. Retrieved from: https://independentsector.org/news-post/the-importance-of-community-based-organizations-in-human-services/
Parashkevova, B., Penev, N., Nencheva, I., Simeonov, S., Zdraveska, A., & Marinova, J. (2017). Financial Management of General Practitioners Practices in Bulgaria: Features and Challenges. Trakia Journal of Sciences, 15(Supp1), 247–251. Retrieved from multi-search database EBSCO available in the TUW Online Library.
The Kresge Foundation (2016). A CALL FOR ACTION: Strengthening the Human Services Sector. Retrieved from: https://kresge.org/sites/default/files/Strengthening-the-Human-Services-Sector.pdf
ALMAZAN, R. (2015). Four reasons math is anything but elementary for business owners. Inside Tucson Business, 24(24), 4. Retrieved from EBSCO multi-search database
Authors (2017). How to Choose the Right Basis of Accounting for Nonprofits. Rinehimerbaker Accounting solutions. Retrieved from: https://rinehimerbaker.com/blog/choose-right-basis-accounting-nonprofits/
Antonelli A. (2016). Best Practices for Nonprofit Financial Health, Part Three: Understanding Full Costs. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/best-practices-nonprofit-financial-health-part-three-understanding-full-costs
Authors (2018). Nonprofit finance terms and concepts. Nonprofit Finance Fund. Retrieved from: https://nff.org/glossary
Bailey, W. J., & Samuels, J. A. (2018). Analyzing Two Investments—An Instructional Case to Introduce Basic Financial Accounting Concepts. Issues in Accounting Education, 33(4), 47–56. Retrieved from multi-search database EBSCO available in the TUW Online Library.
Concept of Double Entry (2017). Accounting-Simplified.com. Retrieved from: https://accounting-simplified.com/double-entry-accounting.html
Coley H. (2018). Cash vs. Accrual. Greater Washington Society of CPAs. Retrieved from: https://www.nonprofitaccountingbasics.org/accounting-bookkeeping/cash-vs-accrual
Griffin MP. Basic Concepts and Principles of Financial Accounting and Financial Statements. How to Read and Interpret Financial Statements : A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 6-35 only. Retrieved from EBSCO multi-search
Authors (2019). The four basic financial statements. AccountingTools. Retrieved from: https://www.accountingtools.com/articles/the-four-basic-financial-statements.html
Griffin MP. How to Read and Interpret Financial Statements : A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 41-90 only. Retrieved from EBSCO multi-search available in the TUW Online Library.
Sherman, E. H. (2015). A Manager’s Guide to Financial Analysis: Powerful Tools for Analyzing the Numbers and Making the Best Decisions for Your Business (Vol. Sixth edition). [Place of publication not identified]: AMA Self-Study. Retrieved from EBSCO multi-search (Read pages 19-26 only).
Walther L. (2019). The Four Core Financial Statements. Retrieved from: https://www.principlesofaccounting.com/chapter-1/financial-statements/
Antonelli A. (2016). Best Practices for Nonprofit Financial Health, Part One: Top 3 Measures of Financial Health. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/best-practices-nonprofit-financial-health-part-one-top-3-measures-financial-health
Broweleit, T. (2016). Performance Measurement – Vodcast 2: Measuring Financial Performance, IUBH Fernstudium . Retrieved from: https://www.youtube.com/watch?v=4roeado7Zhc [14:30]
Griffin MP. How to Read and Interpret Financial Statements : A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 95-110 only. Retrieved from EBSCO multi-search available in the TUW Online Library.
Lampland, B. (2015). Becoming a Profitable Nonprofit While Staying Mission-Focused. Philanthropy News Digest (PND). Retrieved from: https://philanthropynewsdigest.org/columns/the-sustainable-nonprofit/becoming-a-profitable-nonprofit-while-staying-mission-focused
Paszkiewicz, E. (2019). 3 Financial Ratios and Benchmarks Nonprofits Must Know. Gross, Mendelsohn & Associates. Retrieved from: https://www.gma-cpa.com/blog/nonprofit-financial-benchmarks
Peavler, R. (2018). What Are the Categories of Financial Ratios? The Balance Small Business. Retrieved from: https://www.thebalancesmb.com/categories-of-financial-ratios-393217
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|