Blog

Why you need an NFP accounting expert

When it comes to managing the financials of a not for profit, it can be a challenging task for people without the necessary accounting skills. In fact, it can even be difficult for a commercial accountant to navigate the nuances. We highlight some of the key reasons why you need an NFP accounting expert.

Understanding Financial Reports – Part Four

Welcome to part four of our Understanding Financial Reports series – we’ve worked through context, Accounting 101 and the Profit & Loss, and this month’s instalment brings us to the Balance Sheet.

Managing the end of JobKeeper in NFPs

Australian organisations and not for profits (NFPs) heaved a collective sigh of relief in March 2020, when the federal government announced its $70 billion JobKeeper scheme. Designed to assist Australian-owned businesses and NFPs adversely impacted by COVID-19, the scheme has been a lifeline to many who have relied on the wage subsidy to stay afloat.

New NFP financial management

It’s important for new non profit organisations to have a strong foundation in financial management to ensure success. We look at some of the key elements a new NFP should consider when managing their not for profit accounting.

Understanding Financial Reports – Part Three

So far in our Understanding Financial Reports series, we have looked at the context of financial governance and a brief Accounting 101 on the chart of accounts, cost centres and cash vs accrual accounting. This time around we will examine the Profit & Loss report.

Understanding Financial Reports – Part Two

In this installment of our series we want to give you some accounting context and also to further set the scene with a reminder that financial reports are not just a task for your accountant, they are a source of information that supports your decision making.

Understanding Financial Reports

As a senior manager or Board member of a not for profit organisation, you have a fiduciary duty to understand the organisation’s financial position and make decisions in the best interests of the organisation.

Online donation website security

In 2020, the ability to receive donations via your website has become more important than ever. Your website is one of the best ways to connect with potential donors. It is extremely important that not for profit organisations make sure their online donation platform and all website data remain well-secured.

Hosting a successful virtual AGM

The Annual General Meeting season is almost upon us, but with COVID-19 restrictions causing logistical challenges, many not for profit organisations will need to consider going virtual this year.

Charities’ role in economic recovery – SVA and CSI report review

SVA and CSI have released a report that emphasises the important role that charities play in the Australian economy – and how a sustainable sector is vital for national economic recovery once we are past the current health crisis. We take a closer look at this new report and highlight some of the key points.