Weekly study1 hour
Reporting Obligations of Your Charity Part B: Financial Skills for ACNC Reporting Requirements
Develop your skills to meet all ACNC financial reporting requirements.
All charities are required to complete the Annual Information Statement and many also complete financial reports. But how do you know what financial information is required? And do you have the financial understanding and skills to understand what is being asked?
This short course from the Australian Charities and Not-for-profits Commission (ACNC) provides answers.
Through this course, you will:
- Learn about annual financial reports and accounting standards.
- Discover the difference between General Purpose Financial Statements and Special Purpose Financial Statements.
- Compare an audit to a review.
- Find out about key management personnel remuneration.
- Gain an understanding of related party transactions and disclosure requirements.
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Explain what an annual financial report is and identify its various components.
- Describe accounting standards and summarise the differences between general purpose financial statements and special purpose financial statements .
- Compare an audit to a review and reflect on the value of receiving constructive feedback to improve your charity’s practices.
- Explore the requirements for key management personnel remuneration and apply them to your charity.
- Investigate the new related party transactions and disclosure requirements for charities and identify what your charity needs to do now to be prepared.
Who is the course for?
The second of two short courses, this course is for charity leaders who are responsible for meeting the financial reporting obligations of the ACNC. It is designed for board members and sector advisors such as accountants, auditors, reviewers and bookkeepers.
Who developed the course?
The Australian Charities and Not-for-profits Commission (ACNC) is the national regulator of charities. We register and regulate Australia’s many charities. We help charities understand and meet their obligations through information, advice and guidance. We help the public understand the work of the charity sector and provide a free searchable register of Australian registered charities.
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