Accounting for a public organization (public association, NGO)

Accounting practice
  • public organization
  • public activity
  • 4 employees

Annual turnover: $ 300 thousand USD

The head of the public association asked us how to build a accounting records in his organization, so that he would comply with the principles of transparency, correctness of conducting and preparing reports, and would reflect the real state of affairs in his organization. In addition, the manager planned to attract funding for his projects from international donors and one of the main stages of project closure should have been the preparation of documents and a financial report on expenditures and the external audit. Also, the client considered the issue of how to implement accounting, by hiring an employee in the staff or outsourcing processes, one of the main criteria for him was the amount of expenses on accounting processes in his company. After monitoring the market of vacancies for chief accountants and the cost of accounting outsourcing, he made a decision to choose outsourcing, as the cost of work of an accountant and the quality of outsourcing did not differ significantly.

Result

For more than 3 years we have been keeping accounting records for this organization, and preparing financial statements for donors and communicating with auditors in the course of the project audit.

If you have a similar situation, write to us to resolve the issue