Standard Chart of Accounts

Our Community supports the Centre for Philanthropy and Nonprofit Studies (QUT) project to develop a standard Chart of Accounts and data dictionary for small community organisations throughout Australia.

The CPNS project commenced in 2002.

Its aims were to rationalise the acquittal requirements placed on non-profit organisations by government funders. Research evidence found that there was little consistency between departments in the financial treatment and accounting terms used in grant and tender reporting, creating a heavy compliance burden on community organisations when acquitting grants.

Originally developed for organisations in Queensland, the project has been migrated to other states. In April 2010, the Council of Australian Government (COAG) meeting in Canberra agreed to adopt a standard chart of accounts nation-wide ("where possible") by July 2010 in order to "further reduce the regulatory burden and improve public confidence in the not-for-profit sector".

The Standard Chart of Accounts project is designed for organisations that receive government funding, however Our Community believes all community organisations should use this resource, which is designed to get us all speaking the same language.

Read more about the project and access state-specific information at https://wiki.qut.edu.au/display/CPNS/Standard+Chart+of+Accounts