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Accounting for revenue in the not-for-profit and public sectors is a complex task that requires a deep understanding of the underpinning accounting standards. At a glance Australia’s not-for-profit sector comprises more than 600,000 registered organisations that generate annual revenue of over A$146 billion. Income recognition within the sector is a complex task, since there is often a mismatch between when cash is received and when it is recognised as revenue in the accounts and then spent and recognised as an expense. Determining when certain forms of income need to be recognised requires an in-depth understanding of two accounting standards: AASB 15 and AASB 1058.

New south walesMark munroSacred heart missionSacred heartVictor oyugiபுதியது தெற்கு வேல்ஸ்குறி மன்ரோபுனிதமானது இதயம் பணிபுனிதமானது இதயம்