Broken Arrow, OK area Certified Public Accountants (CPAs) answer basic accounting concerns:
When it comes to financial accounting in the Broken Arrow area of Oklahoma, members, contributors, taxpayers and others who provide resources to non-business organizations do so for reasons different from those of owners of business enterprises. All nonbusiness organizations obtain significant resources from resource providers who either expect no economic benefit or expect benefits received not to be proportionate to the resources provided. Those resources are often provided for charitable, humanitarian, religious, or other noneconomic reasons. As a result, those who provide resources to a nonbusiness organization and those who benefit from the goods or services it provides may be different individuals or groups. Owners of business enterprises, in contrast, generally expect returns through dividends or price appreciation of their securities commensurate with the perceived risk.
More best practices by top CPAs and accountants in Broken Arrow - Terms defined:
As mentioned above, noneconomic reasons are commonly factors in decisions to provide resources to particular nonbusiness organizations. For example, contributors to philanthropic organizations, such as charities, and to some membership organizations, such as churches, generally seek no direct economic benefits. Rather, their reasons for voluntarily providing resources relate to their interests in furthering the purpose and goals of the organization. The goals may involve a wide range of endeavors including those of a charitable, cultural, educational, economic, religious, scientific, social or political nature.
Some kinds of membership organizations such as professionals and trade associations, not to mention CPAs and accounting firms, assess membership dues. Persons joining these organizations often seek noneconomic benefits, such as recognition or prestige, in addition to direct service benefits.