Bookkeeping

The next step is to forecast your organization’s revenue for the upcoming year. This can be challenging because, unlike for-profit businesses, nonprofits rely on a wide variety of funding sources. The primary purpose of nonprofit budgeting is to ensure that the organization can meet its goals without running out of money. It involves tracking where…

If incremental cost leads to an increase in product cost per unit, a company may choose to raise product price to maintain its return on investment (ROI) and to increase profit. Conversely, if incremental cost leads to a decrease in product cost per unit, a company can choose to reduce product price and increase profit…