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One difference in the balance sheets of a nonprofit or not-for-profit organization and a for-profit business is the name or title shown in its heading. In a nonprofit, the name of this financial statement is the statement of financial position . In the for-profit business this financial statement is the balance sheet. Another difference is the section that presents the difference between the total assets and total liabilities. The nonprofit’s statement of financial position refers to this section as net assets , whereas the for-profit business will refer to this section as owner’s equity or stockholders’ equity. The reason for this difference is the nonprofit does not have owners.
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Lobbying depends on cultivating personal relationships over many years. Photo: Lobbyist Tony Podesta (left) with Senator Kay Hagan (center) and her husband. Lobbying in the United States describes paid activity in which special interests hire well-connected professional advocates, often lawyers, to argue for specific legislation in decision-making bodies such as the United States Congress . It is a highly controversial phenomenon, often seen in a negative light by journalists and the American public, and is frequently misunderstood. [ 1 ] While lobbying is subject to extensive and often complex rules which, if not followed, can lead to penalties including jail, the activity of lobbying has been interpreted by court rulings as free speech and is therefore protected by the Constitution .
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