ACC 325 Module Five Journal Guidelines and Rubric

Overview: For nonprofit organizations, the process of budgeting is critical to the organization's sustainability and success. Even though nonprofits do not have a profit motive, it is very important for them to manage resources in order to meet their outlined mission. The budget provides a guide and enables the nonprofit organization to manage current resources while planning for the future. Once a budget is established, it should be compared to actual results to make sure the organization is on track and it may need to be modified if circumstances change that were not accounted for when the budget was developed. In this journal assignment, you will outline the steps a nonprofit manager would need to take to develop and monitor a budget within the organization. This journal assignment will help you practice creating a budget for the final project, due in Module Seven.

Specifically, address the critical elements listed below.

Preparing a Budget

o Describe the to take to nonprofit organization's budget.

o Discuss the considerations that would need to take into account when preparing the nonprofit organization's budget.

o Describe individuals involved in the budget process.

o Outline briefly the budget process timeline and key activities.

Ongoing

o Describe the steps you would take to ensure the organization is on track to meet its budget.