Technical Guide on Accounting for Not-for-Profit Organizations

The document titled "ICAI - PDC - Technical guide on NPO" provides comprehensive guidance on the financial reporting and regulatory requirements for Non-Profit Organizations (NPOs). It covers various aspects including the nature and characteristics of NPOs, regulatory framework, accounting standards applicable to NPOs, and reporting obligations. The guide emphasizes the importance of transparency, accountability, and governance in NPO operations. It offers insights into financial statement preparation, disclosure requirements, and compliance with relevant laws and regulations. Additionally, the document addresses specific accounting issues commonly encountered by NPOs such as revenue recognition, expense allocation, and fund accounting. It also provides practical examples and illustrative formats to aid NPOs in implementing the recommended practices. Overall, this technical guide serves as a valuable resource for NPOs, accounting professionals, regulators, and other stakeholders involved in the management and oversight of non-profit entities, facilitating better understanding and adherence to financial reporting standards and regulatory compliance.

Click here to read more