CPA Australia releases much-needed guide
To help users gain a better understanding of not-for-profit (NFP) financial reporting, CPA Australia has developed a free online publication A guide to understanding the financial report of not-for-profit entities
This guide provides different users, who are not experts in accounting, with some useful tools and pointers to make sense of the information that is contained within NFP financial reports.
Some of the key features that will benefit users reading the guide are:
An outline of the important elements of NFP financial statements
The use of an fictitious example to illustrate some important aspects of NFP financial statements
An overview of audits and reviews of NFP financial statements
A simple glossary of terminology used in NFP financial reports.
The guide is very much about enhancing the understanding of not-for-profits and the financial metrics they prepare and present. It can be used by members, donors, funding providers, as well as management and staff of not-for-profits.
Download CPA Australia’s publication, A guide to understanding the financial reports of not-for-profit entities here.