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But when it comes to the non-profit versus for-profit business how do they compare? Your assignment...

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Accounting

But when it comes to the non-profit versus for-profit businesshow do they compare? Your assignment is to analyze this using acomparison format. Let’s see which side you are on. In 500 words ormore, answer the questions listed below. How do their objectivesdiffer? How do they generate revenue? How do they control andreport expenses/expenditures? How do they measure and reportprofit? How is equity and ownership reported? Reflect on yourfuture career goals as an accountant. It is obvious that bothnon-profit and for-profit businesses need accountants; but, howdoes their focus and job differ? Do non-profit businesses paycompetitively to for-profit businesses? Now that you have comparedthe two business types and the role accountants play along withtheir compensation, where do you see yourself fitting and why?

Answer & Explanation Solved by verified expert
4.2 Ratings (515 Votes)
The key difference between a for profit and a non profit is that one is organized to make money for its owners and the other is not A non profit means to serve the society charitable educational scientific or literary purpose this distinction in purpose between the two types of organizations is what drives most of other differences between non profits and profits All companies have different purposes but this where the differences between the non profit and for profit is the starkest while for profit organisations there might be many goals but their primary goal is to make profit and produce effective products and services that are valuable to customers companies develop products and    See Answer
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