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Write a memo to George briefly describing how a budgetary control system would be useful for demonstrating accountability

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Reviva is a not-for-profit organization that began operations on January 1, 2012. The organization provides support for individuals who are trying to start a new life after experiencing poverty. George Karan, the CEO, is interested in demonstrating accountability to the organization?s various funding agencies and private donors. He has heard that some not-for-profits prepare formal budgets for upcoming periods, something that Reviva has not yet done. He is interested in implementing a system of budgetary control and wonders if such a system would affect Reviva?s recordkeeping and financial reporting. George has asked you, as the organization?s accountant, to write a brief memo updating him on budgetary control systems.;Required;Write a memo to George briefly describing how a budgetary control system would be useful for demonstrating accountability to Reviva?s funding agencies and private donors.

 

Paper#20861 | Written in 18-Jul-2015

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