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Australian not‐for‐profit sector views on the conceptual framework, accounting standards and accounting information

Ralph Kober (), Janet Lee and Juliana Ng

Accounting and Finance, 2021, vol. 61, issue 1, 1105-1138

Abstract: In this paper, we examine the conceptual framework, accounting standards and accounting information relevant to the not‐for‐profit (NFP) sector. Based on the responses of 242 Australian NFP managers, we find support for the inclusion of accountability in the conceptual framework, and for a common set of accounting standards across NFP and for‐profit sectors with additional standards or paragraphs to recognise NFP specific issues. Respondents also rated information within general‐purpose financial reports to be useful for decision making within their organisations. We offer suggestions as to what our findings mean for the development of accounting standards for the NFP sector.

Date: 2021
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