Write a 1,050- to 1,400-word paper in which you answer the following questions:
- Why are principles of accounting so important?
- Who uses financial information from nonprofits? Why?
- Why is the principle of matching so important?
- What is the difference between current and long-term assets? Why is this important?
- What is deprecation? Why is it important?
- Why does a nonprofit need a chart of accounts?
- When does a nonprofit pay federal taxes?