TITAN
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Leadership, Politics

COAG Approves NFP Standard Chart of Accounts


Thursday, 22nd April 2010 at 5:33 pm
Staff Reporter
The QUT Standard Chart of Accounts (SCOA) has been formally approved by all Australian Governments for implementation by July 1 2010.

Thursday, 22nd April 2010
at 5:33 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
COAG Approves NFP Standard Chart of Accounts
Thursday, 22nd April 2010 at 5:33 pm

The QUT Standard Chart of Accounts (SCOA) for the Not for Profit sector has been formally approved by all Australian Governments for implementation by July 1 2010.

Federal and state governments, meeting as the Council of Australian Governments (COAG) in Canberra on 19-20 April, agreed to an implementation plan and governance structure to develop a nationally consistent approach to fundraising regulation, and the adoption of a standard chart of accounts where possible by 1 July 2010.

The COAG meeting agreed that this will further reduce the regulatory burden and improve public confidence in the Not for Profit sector.

The Council of Australian Governments (COAG) agreed in December 2009 to adopt a Standard Chart of Accounts for Not for Profit organisations receiving government grants.

The Chart of Accounts, developed by QUT’s Australian Centre for Philanthropy and Nonprofit Studies (ACPNS), is available free of charge to Not for Profit organisations.

Speaking in January, Centre director Professor Myles McGregor-Lowndes said the chart would remedy a lack of consistency in accounting categories and terms required by government departments which funded NFP organisations.

He said essentially what it means for these organisations is that they no longer have to negotiate the chaotic maze of government guidelines and instead can now focus their efforts on the real business of Not for Profit organisations, which is improving the lives of others.

Access the Standard Chart of Accounts, and a range of other tools and information here: https://wiki.qut.edu.au/display/CPNS/Standard+Chart+of+Accounts 




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Australians Are Giving Less

Wendy Williams

Thursday, 14th June 2018 at 8:00 am

Are Millennials Really as Selfish as Everyone Says? The Stats Are In

Contributor

Thursday, 16th November 2017 at 8:00 am

Australian Gift Deductions Take a Great Leap Forward

Lina Caneva

Thursday, 12th October 2017 at 8:10 am

A ‘Flash Mob’ Farewell for McGregor Lowndes

Lina Caneva

Monday, 9th October 2017 at 5:08 pm

POPULAR

Psychosocial Disability Stream Added to NDIS

Maggie Coggan

Wednesday, 10th October 2018 at 5:07 pm

Making Tourism More Inclusive For All

Luke Michael

Monday, 8th October 2018 at 5:24 pm

Caution Needed Over Autism Diagnosis Guidelines

Maggie Coggan

Wednesday, 17th October 2018 at 5:25 pm

Resilient Families Becomes First SBB to Mature in Australia

Luke Michael

Wednesday, 10th October 2018 at 4:57 pm

TITAN
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!