ADMS 1500 Lecture Notes - Lecture 12: Financial Statement Analysis, Beneficial Ownership, Fund Accounting

• School: York University
• Department: Administrative Studies
• Course: ADMS 1500
• Professor: N/ A

Document Summary

For-profit companies maximize profits - may include crown corporations. Not-for-profit organizations provide a service or services subject to the extent the resources they raise allow it. Governments provide a range of services and have the power to tax. Charities, arts, schools and universities, hospitals, clubs and co-ops. Profit not sought, rather the aim is to breakeven in long run. May accumulate funds for a purpose (except charities) Governmental organizations share principal characteristics of nfpos. Operate under a regime of political governance. Performance measurement in npos all organizations need to align: Quantitative measures related to the key success factors. For profit accounting techniques may still be relevant for example: Bullstrode museum of fine arts is considering a proposal from its executive director that would, if successful, make the museum a little less dependent on government financing. He proposes to do s(cid:272)ulpture reprodu(cid:272)tio(cid:374)s to (cid:271)e sold i(cid:374) the (cid:373)useu(cid:373)"s retail shop.