A guide to understanding the financial reports of not-for-profit entities



Publication Details

Luckins, J., Abeysekera, I., Chew, T., Egan, T., Hardidge, D., Jakubicki, P., Lee, A., Richards, M., Ridley, C., Ghandar, A., Shying, M., Subramaniam, R. & Tsahuridu, E. (2014). A guide to understanding the financial reports of not-for-profit entities. Southbank, Australia: CPA Australia. http://www.cpaaustralia.com.au/~/media/corporate/allfiles/document/professional-resources/reporting/not-for-profit-guide.pdf

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CPA Australia


[extract] Introduction:


This guide is intended for the external users of financial statements prepared by not-for-profit (NFP) entities in Australia, such as members of not-for-profit entities, donors and funding providers. In addition, the management and staff of NFPs may also find the guide useful. The guide will assist users to better understand the content of the financial statements and other accompanying documents of NFPs. To assist understanding, the guide provides in the appendix extracts from the financial statements of Koala Ridge Beach Life Savers Incorporated (hereafter referred to as Koala Ridge), a fictitious charitable NFP entity which provides lifeguard services and other beach-related activities for visitors to a popular Queensland beach. It should be noted that the example provided in the appendix does not constitute a full set of financial statements and the extracts are presented only to demonstrate key aspects of the financial statements of an NFP. In addition, the guide includes some general material about the Australian NFP sector.

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