Financial Accounting in Human Service Organizations

Financial Accounting in Human Service Organizations

Corporate accounting serves within an organization as a systematic collection, administration, and evaluation of quantifiable (monetary and non-monetary) data and information with the aim of planning, reporting, and controlling the profitability of an organization. Data is created for different groups of stakeholders (e.g., internally for the executive board, management, or externally for tax authorities, creditors, etc.). Accounting performs different functions (e.g., acquisition, storage, processing, and sharing of information). It always takes place in accordance with a set of goals, strategies, and restrictions, available funds and expected performance results, whereby the relationships and processes to be presented in an institution must be quantified to be calculated, measured and checked. This essay describes the fundamentals of financial accounting and their practice in Human Service Organizations.

See Publications: Arnold, M. (2019). Finanzbuchhaltung [Financial Accounting]. In H. Christa (Ed.), Das große Handbuch Organisation und Verwaltung in der Kita [The Compendium of Organization and Management in Daycare Facilities] (pp. 203-217). Köln: Carl Link.*

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Dr. Maik Arnold is Professor for Non-Profit-Management and Vice-President for Research, Innovation and Transfer at University of Applied Science Dresden.