Accounting

Have you heard of ‘timebanking’? No, nor had I until Pro Bono Australia told me about it the other day. I was a little surprised (having made an effort over the last year to keep up-to-date with NFP things), but it turns out that, although time-based currency exchanges have been around since 1832, and this...

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Your auditor should be very (very) careful before doing your accounting. But here’s a way that you, as somebody involved in the management or governance of your organisation, can legitimately tap their accounting knowledge. In order to come to their opinion on your financial report, your auditor will pore over your books and ask you...

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At the risk of losing you right at the beginning, the story requires me to first tell you about something called a ‘chart of accounts’. The heart of an accounting system is the ledger, a collection of accounts (not to be confused with bank accounts), each a record of transactions about an expense, revenue, asset,...

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