Part of your new accountant's role will be involved with budgeting for future years. So you can understand where she is coming from, you ask her to talk about the following with you:
• Explain how revenue sources are planned and budgeted in nonprofits.
• What are some typical key assumptions that must be made in the "revenue sources" budgeting process of nonprofits, and what could cause these assumptions to be invalid?
• What are at least 4 of the key revenue assumptions that must be made in a for-profit entity?