In principle, good governance should be actively driven by the Board. Having a shared understanding of what good governance looks like in practice around your board table is important to ensure efficient meetings, good questions and productive discussions.
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At Accounting For Good we always aim for a ‘no surprises‘ audit… and we are pretty happy with our track record of very few material adjustments across our client portfolio. Some auditors were hot on a couple of topics this year. This month we explore the issue of ‘super on leave loading’.
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The financial landscape for not for profit (NFP) organisations continuously evolves. In the past, in-kind contributions were rarely seen, but today they are becoming more common in NFP accounting.
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The tenth annual AICD Not-for-Profit (NFP) Governance and Performance Study report was published at the end of July. It highlights many of the challenges NFP directors face and discusses specific topics relating to NFP boards.
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Many not for profit (NFP) organisations face challenges associated with funding. Relying on government grants, philanthropic donations and fundraising typically means dollars are limited. But what do you do when even a tight budget becomes unsustainable?
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For most not for profit (NFP) organisations, their annual report is a document filled with lots of information about their activities, their audited financials and a wrap up of various departments. But, there is no need to spend lots of money and use up your valuable resources on a document with such a short shelf life.
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Paula Chegwidden joined the Accounting For Good Account Manager team in June 2018. With over 20 years’ experience within the not for profit sector she brought with her a wealth of knowledge and a passion to help people.
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It’s that time of year; audit season is fast approaching and for many not for profit accounting staff it can be an ominous time. But we have a few helpful tips that we think can alleviate some of the stress. It’s all about being prepared and well-organised in the lead-up to your audit date.
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At Accounting For Good we love cloud-based accounting. It provides a myriad of benefits to our clients and enables us to offer an extensive service that can be tailored to suit any sized not for profit (NFP) organisation.
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Not for profit (NFP) organisations have unique aspects that might be surprising for a commercial accountant. There are specific standards that NFPs must adhere to, and a range of taxation differences. Plus, an NFP income stream is quite different to that of a for-profit corporation.
Read MoreWe work exclusively with ACNC registered charities and Not For Profit organisations with a turnover of AUD$1 million or more. If your organisation seeks professional and customised accounting support and services, we’d love to hear from you. Complete the contact form and one of the experienced team members will contact you shortly.
If you want to establish a charity or NFP, please read our article “Thinking of starting a charity or NFP.” Accounting For Good cannot assist new entities or start-ups at this time.
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Sydney NSW 2000
02 9370 6200