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Grant Accounting in Nonprofit Organization

Accounting for grants can quickly become chaotic if not properly administered. Nonprofit Auditors know grant funding has to be properly categorized and recorded as grant revenue, grant receivable or deferred revenue. Each expenditure must be matched to the appropriate grant. Discussion of each revenue category and each type of expenditure as well as the various types of grants is beyond the scope of this article. Most grants stipulate how the expenditure of funds is to be