Definitions for "Fund accounting"
A system of accounting that requires separate records and allocations for each grant or source of funding.
An accounting system organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate.
The process of analyzing, recording, summarizing, evaluating and interpreting the financial activity and status of a nonprofit organization and communicating the results.