Not-for-profits to be hit by new accounting standards

Summary

A change in accounting standards means not-for-profit bodies like schools, churches and charities may unwittingly be in breach of the Corporations Act. The new standard takes effect from the end of the year. It requires not-for-profit entities that control funds in subsidiary bodies to produce a consolidated financial report. In its financial reporting, this means […]

Tags: accounting standards, Corporations Act, not-for-profits, Schools