Supplied in Chapter 25 Is Dense, and

¶ … supplied in Chapter 25 is dense, and full of key facts and ideas that are useful in guiding a board of a non-profit organization into a prudent position when discussing the ideas of growth through investment. The myriad of options and terms also suggests that a certified public accountant is best able to pinpoint the most satisfactory approaches to an economic and efficient investment program that may be used to fuel and fund projects to new levels of success.

The chapter begins by discussing the different types of investments available to a board when considering the options to grow the organization in an beneficial manner that is aligned with the greater organizational strategy. The authors are not hesitant to offer their opinions when guiding the reader to a certain conclusion. Throughout the reading, they offer concrete examples of how the principles introduced can be practically applied in real world example. In discussing how this is done, accounting statements are provided for calculating share values for a pooled investment fund.

This demonstration is a fine example for the student to interpret the results and see exactly how this done. The chapter ultimately concludes that the board has a great responsibility to the organization to ensure that the accounting measures are undertaken with prudence and care. Key references are also supplied to help provide further sources of reference in which the student may investigate to find the appropriateness of their actions.

The sheer mass of information contained within the details of the subjects discussed in this chapter further reinforces the need for professional accounting measures to be taken in such situations by the appropriate parties. Chapter 29 Chapter 29 of the Gross text introduced the reader to the systematic processes of bookkeeping. Before offering two preferable methods of bookkeeping classified as the checkbook method and the cash-basis method, the three step process of bookkeeping systems are introduced to give some need background information on the idea.

The three steps discussed by the author include first, recording each transaction in a manner that is uniform and systematic. The next step is described as being able to adequately summarize the transactions in an ordered and grouped form that can be logically and rationally analyzed for future use. The final step in bookkeeping includes having the ability to prepare the data and information gathered into a summary form that can be explained and measured by those not professionally trained in the art and science of accounting.

The remainder of the chapter compares and contrasts the two accepted methods of bookkeeping known as the checkbook method and the cash basis method. The checkbook method is explained as a simpler approach that is recommended for smaller and less complex.