Glossary

Bias free. Fairness is a condition or quality of being objective, consistent, and non-discriminatory. Fairness is the opposite of arbitrariness.

Money matters reports. Documents that provide a broad overview of a non-profit’s financial position. These documents are approved of by the Board and signed, then presented for member acceptance at an annual general meeting. Financial statements generally include four documents:

● Income Statement

● Balance Sheet (Statement of Financial Position)

● Statement of Cash Flows

● Equity Statement (Statement of Retained Earnings).

Financial statements are not the same as accounting records.

Accounting time. A one-year period of time that a non-profit  uses for accounting purposes and preparation of its financial statements.

Raise money. Activities conducted by or on behalf of a charity with the primary purpose of raising money  to support the charity.