CBB
Close Search
 
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Governance

COAG Approves NFP Standard Chart of Accounts


22 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.

Staff Reporter | 22 April 2010 at 5:33 pm


0 Comments


 Print
COAG Approves NFP Standard Chart of Accounts
22 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 



PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

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 or download our contributor guidelines.

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Your email address will not be published.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



YOU MAY ALSO LIKE

Australians in poverty need a bounce-forward recovery

Kate Harrison Brennan

Wednesday, 20th January 2021 at 5:38 pm

Does the chaos of US politics have any impact on Australia?

Neil Pharaoh

Monday, 18th January 2021 at 5:39 pm

Australia urged to steer clear from overly punitive lockdown measures

Luke Michael

Monday, 18th January 2021 at 5:37 pm

Predictions for 2021: Charities

Dr Gary Johns

Thursday, 14th January 2021 at 7:30 am

pba inverse logo
Subscribe Twitter Facebook
×