Discussion question 1 Week 9 Assignment Example | Topics and Well Written Essays - 250 words

Discussion question 1 Week 9 - Assignment Example , balance sheet and cash flow statement to be prepared in accordance with the Generally Accepted Accounting Principles (GAAP) by the accountants of the company. The donors of a not-for-profit organization are its main source of funding. Hence it is important for the organization to satisfy the needs of its donors to ensure generation of more funds for the organization which would help it to run the operations effectively and efficiently. Hence, it is necessary that better quality financial statements are prepared by the organization which provides all the necessary information required to reassure the donors. It is easier and less costly for any not-for-profit organization to keep its existing donors than acquiring new one (Agard, 2010, p. 641). According to the case BDO International is one of the top five accounting firms in the world and is engaged in the business of providing various financial and accounting services to its clients (BDO International, n.d.). The advantages of BDO from belonging to a large international group are that it can have a huge customer base and has greater proximity to the clients. This helps BDO to generate huge amount of revenues and provide quality service to its clients according to their specific needs and