Financial Reporting Requirements

Enhancing not-for-profit annual and financial reporting

As part of its ongoing initiatives in not-for-profit reporting, in 2011 the Institute of Chartered Accountants in Australia has published the third edition of Enhancing not-for-profit annual and financial reporting, which was first launched in 2007. The guidance is a tool designed specifically for the NFP sector to attain best practice in their annual and financial reports, as well as providing an overview of applicable legislation and resources.

This document can be viewed and downloaded from the Associations Forum website either in its entirety or by chapter... more

Financial reporting for NFPs

What at first appeared to be simplifications to reporting requirements for not-for-profits now appear to impose further disclosure in coming years. Early in 2010 the Federal Government and the Australian Accounting Standards Board (AASB) introduced new financial reporting standards... more