Financial Foundations
Financial Foundations
Prepayments in not-for-profit-accounting – October 1, 2025
What are prepayments? Prepayments, often called prepaid expenses, are payments your organisation makes in advance for goods or services that will be received or used in the future.
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Bank account name matching best practice – September 9, 2025
Bank account name matching is currently on the agenda for most organisations, and the not-for-profit and charity sectors are not immune to the process.
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To capitalise or to expense, that is the question? – May 16, 2025
When an organisation, including an NFP, purchases an asset, why is it capitalised rather than recorded as an expense?
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Accounting for annual and long service leave – April 9, 2025
It is fair to suggest that accounting for annual and long service leave is one of the more cryptic entries when balancing the books.
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Profit & Loss Vs Cash – March 18, 2025
One of the most common questions Not-for-Profit (NFP) managers ask is: Why doesn’t my Profit and loss (P&L) statement match my cash balance? In this article, we examine P&L and...
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NFP – Preparing an annual budget – March 18, 2025
Preparing an annual budget is critical for any Not For Profit (NFP) organisation. In this article, we provide practical considerations and tips for your organisation as preparation begins before the...
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Making sense of financial reports for board members – February 10, 2025
Many leaders and board members of Not For Profits are not "numbers people." The real challenge often lies in the language. In this series of blogs, we aim to help...
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Cash v Accruals – February 7, 2025
One of the most important decisions you’ll make when managing your NFP organisation's finances is how to track income and expenses. There are two main accounting methods: cash and accruals.
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Financial guide for NFP organisations under 750k – January 29, 2025
NFP organisations with a turnover under 750K will find high-level accounting services cost-prohibitive. AFG has put together this guide of practical insights to help you navigate your organisation's financial responsibilities.
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Common accounting terms for not for profit organisations – January 28, 2025
Are you a Not For Proift organisation? We know the terms and acronyms in accounting can be overwhelming at times. Let’s make them more straightforward with our easy to read...
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