Nonprofits and Public Sector: The Latest Hot Market
P.J. Jakovljevic - June 26, 2004

Public and Nonprofit Sector Markets

Public sector or government agencies and nonprofit organizations have similarities in the fact that both require fund accounting and management capabilities, and have complex financial reporting requirements that are quite different from the commercial, for-profit financial accounting. For instance, over dozens of separate government agencies in one state will logically use dozens of different formats to prepare their separate financial reports, but some standardization of the fiscal procedures and reporting structures may be needed when all these reports are sent to the US Department of Labor (DoL)...