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not for profit

The 2022 year in review for NFP accounting at AFG

Well, dear readers, we are almost done with another COVID-tinged year so here’s a stroll back through 2022 at AFG for our 2022 year in review.

Before we go into the highlights of 2022, however, we must acknowledge the passing of our dear co-founder and passionate innovator, who was commended for his generosity and sense of humour, Morri Young, in February this year.

25th Birthday cupcake with sprinkles

Happy birthday to us

We also celebrated our 25th birthday in June this year. Since its inception as Matrix On Board, AFG has focused on supporting not-for-profit organisations to achieve sound financial management and empowering NFP leaders to understand and influence their numbers in order to achieve their financial goals.

Businessman building blocks with word INSIGHT on top

Insights and information

Not-for-profit accounting requires a dedicated focus to comply with the necessary reporting legislation. We packed the year with industry insights and financial management information to help empower and service our clients.

We focused on funding and fundraising by assisting clients in understanding NFP fundraising, how to find funding in the NFP sector and what ancillary funds are.

We offered tips to prepare NFP budgets for the year, choose an NFP auditor, automate financial processes and manage cash flow.

We also highlight the importance of good administration and volunteers in the not-for-profit environment.

Our EOFY focus looked at NFP Director responsibilities for the June EOFY but also offered an insightful checklist for clients who have a December EOFY – often relevant for schools and educational institutions.

We shine a light on the technical side of NFP accounting

This year, we deep dived into a few technical articles on NFP accounting. We unpacked the AASB and the requirements for the NFP sector and looked at how technology is shifting the role of accountants in not-for-profit environments by fulfilling a more strategic role.

We shared our glossary of accounting terms and looked at key aspects of that charities and not-for-profit organisations should be mindful of when they are campaigning ahead of election time.

Clients in the spotlight

We celebrated Epilepsy Action Australia’s 70th birthday and welcomed back ANZUP’s Pedalthon event, fighting against cancers below the belt.

Omega Ensemble was back on stage as they began touring again after a tough two years brought on by the pandemic.

Centre for Disability Studies (CDS)launched their new training organisation – the Australian College of Disability and Community Services (ACDCS), in September 2021. We spoke with Associate Professor Mary-Ann O’Donovan, the CEO of both CDS and ACDCS, about the exciting new organisation and how our team supports both entities with our not-for-profit accounting services.

We congratulated AFG client NAISDA on their $5 million Federal Government grant to support its vital work in delivering pathways to employment through nationally-accredited dance and performing arts tertiary education for Aboriginal and Torres Strait Islander people.

We also attended the sold-out event for Narang Bir-rong Aboriginal Corporation’s (NBAC’s) NAIDOC Charity Ball in July this year, which raised a massive $21,947.36 for their Leaving Care Program.

AFG client Committee For Sydney hosts the annual Sydney Awards that recognise the achievements of individuals, groups and organisations.  Another AFG client, Story Factory, was the winner of one of those awards.

Welcome on board

This year we also welcomed Account Managers Andrea Ellis and Gavin Eichholz to the AFG Team, along with Practice Manager Yin Zhang.

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