The objective of this course is to introduce and explore basic financial accounting terminology, principles and concepts and their relevant business applications to a nonprofit organization. Students will review and interpret nonprofit financial statements such as the Statement of Financial Position (Balance Sheet) and Statement of Financial Activities (Income Statement). The focus will also be on how nonprofit revenue producing transactions such as: contributions, gift & pledge transactions, contracts & grants and fundraising affect the financial performance of a nonprofit entity. Emphasis will be on identifying key accounting concepts such as revenue recognition principle and accrual accounting. Other topics include strategic planning and budgeting, financial reporting and analysis needed to make informed nonprofit business decisions. Through a combination of discussion, lecture, review of nonprofit financial data and illustrative exercises, students will gain basic financial skills needed to be effective in their respective non-financial roles within the nonprofit world. No prerequisites.