Charity Accounting is a specialized field focused on managing the financial affairs of non-profit organizations. It involves tracking donations, grants, and other forms of income while ensuring that these funds are allocated according to the charity’s mission and legal requirements. Key responsibilities include preparing financial statements, managing restricted and unrestricted funds, ensuring compliance with tax-exempt status regulations, and providing transparency to donors and stakeholders. Charity accounting also involves budgeting, auditing, and reporting to regulatory bodies to maintain the organization’s credibility and financial integrity.
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