Bushfire Appeals
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Governance

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

Indigenous Australians want input into the new Closing the Gap approach

Luke Michael

Monday, 20th January 2020 at 5:15 pm

Low-income Aussies can’t afford to invest in energy efficiency

Luke Michael

Friday, 22nd November 2019 at 3:48 pm

Australians Are Giving Less

Wendy Williams

Thursday, 14th June 2018 at 8:00 am

POPULAR

NDIS not yet in tune with the needs of participants

Luke Michael

Monday, 20th January 2020 at 4:46 pm

What impact will the bushfire crisis have on homelessness?

Luke Michael

Wednesday, 15th January 2020 at 4:28 pm

The rise (and scepticism) of Facebook fundraisers

Maggie Coggan

Thursday, 16th January 2020 at 8:49 am

New fund paves the way for impact investment in the charity sector

Luke Michael

Friday, 17th January 2020 at 4:34 pm

Bushfire Appeals
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!