I have a new client that is a nonprofit and even though I aced the class I took in college, I am wondering if there are the big differences between doing work for a profit and a nonprofit. First thing comes to mind is how important budgeting is and keeping costs down. Secondly the decision to employ cash vs accrual accounting. For a small non-profit, I think cash accounting is better, if only the volume of transactions is low and there is very little for accruals. Anyway, I found a good guide for nonprofit financial management on the Alliance For NonProfit Management website.