How is the job of a financial manager in a nonprofit organization different from that of a financial manager?

Question

How is the job of a financial manager in a nonprofit organization different from that of a financial manager with a profit seeking firm?

Answer 1

The job is basically the same, but the way you do the accounting is different. For profit and non-profit have differing accounting rules.

Answer 2

I have never worked for a "for-profit" entity, but one difference that I can tell you in non-profit is that audits are very strict and are usually done annually. You survive though.

Another thing is, if this organization deals with grants and grant applications some of them are very sophisticated and want very strict accounting of where your money goes. That can be a challenge, but they only do this to make sure that you are the best fit for the grant money.

Good luck. I have always liked non-profit!