Accounting for Public Sector Entities, Higher Education & Charities

The not-for-profit sector includes higher education providers, TAFEs, charities, and federal, state and local governments.

Not-for-profit entities are increasingly wanting to modernise their finance functions to meet current and future needs. We’ve outlined areas of interest for not-for-profit entity finance teams to better anticipate and prepare for change.


Accounting change

There are similarities between the profit and not-for-profit sectors regarding financial reporting. However, there are nuances to how financial reporting rules are applied that will particularly affect the not-for-profit sector.


Finance function effectiveness

There is increasing interest within not-for-profit entities to review existing finance functions and ensure they are fit for purpose and modernised to meet their changing needs.

Streamlining

Not-for-profit entities are following the trend of ensuring their financial reports tell their story. Over the next 12 months we are expecting more not-for-profits to make improvements to their financial reports and increase transparency.

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How finance teams can prepare for change

There are short-term and long-term strategies to prepare for changes in finance teams. This document explores how not-for-profit entities can prepare for change and adapt.

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Not-for-profit industries

Higher education

A short video that outlines key tips for higher education providers implementing the new revenue and leasing standards.

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Service concession arrangements

This paper addresses issues relating to the accounting by grantors for their infrastructure assets recognised under service concession arrangements.

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Charities

Charities should consider the new not-for-profit income standard.

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Tips for implementing the new accounting standards on the horizon

A short video that outlines key tips for higher education providers implementing the new revenue and leasing standards

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Contact us

Sean Rugers
Partner - Capital Markets and Accounting Advisory Services
Tel: +61 2 8266 0309
Email

Amy Senti
Director - Capital Markets and Accounting Advisory Services
Tel: +61 3 8603 6404
Email

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