So your new accountant could practice the budgeting process in your for-profit company, you want her to compare budgeting methods for two different kinds of entities. You give her information for a for-profit and for a nonprofit entity and ask her to complete the following: Given the assumptions and data in this Excel file: complete next year’s budgeted figures for each entity within the same Excel worksheet (yellow cells) include your reasoning for most of the budgeted figures (green cells) Because of a bad recession, government grants were not cut by 50% but are eliminated completely for next year’s budget and fundraising efforts—despite an increase in expenses—did not improve at all. Write a memo of 300–400 words explaining what you would recommend that the museum manager do.
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