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: ATTACHED BELOW.

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.