TITAN
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  General, Research

Understanding Financial Reports for NFPs – CPA Guide


Thursday, 20th March 2014 at 11:31 am
Staff Reporter, Journalist
Accounting peak body, CPA Australia has developed a free online publication to help better understand Not for Profit financial reporting.

Thursday, 20th March 2014
at 11:31 am
Staff Reporter, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Understanding Financial Reports for NFPs – CPA Guide
Thursday, 20th March 2014 at 11:31 am

Accounting peak body, CPA Australia has developed a free online publication to help better understand Not for Profit financial reporting.

CPA Australia Chief Executive Alex Malley says the guide is an important milestone in financial literacy initiatives undertaken by CPA Australia.

“A common feature to all NFPs is that they are not set up to generate a return for their members. Yet beyond this common feature, there are enormous differences in how NFPs are set up and operate and also what their objectives may be.

“This guide is all about providing different users who are not experts in accounting with some useful tools and pointers to unlock and make sense of the information that is contained within NFP financial reports,” Malley said.

Some of the key features in the guide are:

  • An outline of the important elements of NFP financial statements
  • The use of a fictitious example to illustrate some important aspects of NFP financial statements
  • An overview of audits and reviews of NFP financial statements
  • A simple glossary of terminology used in NFP financial reports

“Australia’s Not for Profit sector is large and diverse and has the power to touch almost all Australians in some way – either directly or indirectly through family, friends and colleagues.

“The guide is very much about enhancing the understanding of  Not for Profits and the financial metrics they prepare and present. It can be used by members, donors, funding providers, as well as management and staff of Not for Profits,” Malley said.  

Download CPA Australia’s publication, A guide to understanding the financial reports of Not for Profit entities here.


Staff Reporter  |  Journalist  |  @ProBonoNews



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

Google Reveals Finalists For $5.5 Million Grants Program

Luke Michael

Tuesday, 9th October 2018 at 4:46 pm

US Cuts Fundraising Red Tape

Luke Michael

Monday, 1st October 2018 at 4:46 pm

Changing Perceptions of Fundraising

Luke Michael

Monday, 24th September 2018 at 8:49 am

$50 million Up For Grabs to Help NFPs Drive Change

Maggie Coggan

Monday, 17th September 2018 at 4:21 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

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

You have Successfully Subscribed!