Balance sheet of a nonprofit organisation (NGO) is important financial document which shows financial position of that nonprofit organisation. So, In a nonprofit, the name of this financial statement is also called the statement of financial position.
In the balance sheet of nonprofit organisation, difference between total assets and total liabilities will be shown as net assets because there is no equity share capital in nonprofit organisation and there is also no shareholder of this organisation. This net assets will be the donation fund which is issued by its donors.
In the balance sheet of nonprofit organisation, difference between total assets and total liabilities will be shown as net assets because there is no equity share capital in nonprofit organisation and there is also no shareholder of this organisation. This net assets will be the donation fund which is issued by its donors.
