Financial Reporting

 

Reporting by not-for-profit entities is in a period of major change.

 

This section relates to what is called General purpose financial reporting

 

General purpose financial reporting is reporting for members, supporters, contributors and anyone else who is not able to require information to be reported to meet their own specific needs.

 

Not all not-for-profit entities prepare general purpose financial reports. Some may prepare only Special Purpose Financial Reports. 

 

Special purpose financial statements are tailored to meet the specific information needs of a particular person, group of people or organisation.  They include financial statements prepared for internal users (such as officers of the organization) and for external parties who have the power to demand particular information to meet their information needs (such as lenders, bankers and government departments).

 

In this section:

 

• How do I find out what reporting requirements apply to my entity?
• Are there any particular reporting requirements for registered charities?
• If financial reports are required to comply with generally accepted accounting practice, how do I find out what that means?

• I am struggling with a difficult accounting issue which does not seem to be covered in any material I can find. How do I tackle it?
• Where can I find some guidance on how to present information in financial statements?
• I am looking for guidance on better reporting our performance in more than just financial terms. Where can I find guidance or examples of this?
• We have a disagreement with our auditor(s) on an accounting matter in our financial statements. What can we do?
• How do I know if I can rely on these financial reports?
• What are New Zealand equivalents to International Financial Reporting Standards?
• What are New Zealand Financial Reporting Standards?

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