International Not for Profit Platform

The International Not-for-Profit Platform is a new resource which brings together national guidance on financial reporting standards in one place.

The platform has been developed for the International Forum of Accounting Standard Setters (IFASS) Not-for-Profit Working Group by CIPFA.

It is an online resource which allows approaches to not-for-profit accounting and reporting across different countries to be compared directly for the first time.

International Not for Profit Platform

The platform has been designed:

  • as an online resource which details different jurisdictions approaches for developing financial reporting standards for NFPs and provides an overview of their progress to date
  • to allow approaches to accounting and reporting for commonly encountered issues and areas of difficulty particular to NFPs to sit side-by-side.

It aims to support standard setters to see how transactions common to all NFP organisations are accounted for and reported on, and the different standards and approaches which exist.

It also aims to help users and preparers of NFP financial statements determine how similar transactions would be accounted for and reported on in different jurisdictions around the world. 

The content is designed to explain the accounting requirements and generally accepted practice which exists in different countries. However, it is noted that it does not form any part of the accounting standards that NFPs are required to follow or introduce new standards for the preparation of financial statements or impose particular interpretations of these. The content is not intended in any way to be prescriptive or interpretative. Where examples have been provided, these are included for illustrative purposes only and are not guaranteed to provide a definite interpretation of the relevant accounting requirements.

The platform currently includes information on the following areas:

  • Reporting and Regulatory Framework
    • Financial Reporting Standards for NFPs
      • existing Standards for NFPs
      • scope of standards
      • developing and issuing standards
      • interaction with National and International standards
      • examples of NFP reporting.
  • What are NFPs and how are they regulated
    • definition of NFP organisations
    • regulation of NFP organisations.

  • Current and Common Issues
    • Accounting for non-exchange transactions - Valuation and recognition of non-exchange revenue
      • Are NFP entities required to account for volunteer time?
      • Are NFP entities required to account for donations of non-monetary assets for resale?
      • How do NFP entities account for donated assets?
      • How do NFP entities account for donor/grantor stipulations on how revenue should be spent?
      • How do NFP entities account for income to fund activities that will take place across future accounting periods?
      • When is income from the legacy/bequest of an individual recognised by a NFP entity?

Platform content continues to be developed by the IFASS Not for Profit Working Group. It is hoped to expand the platform’s scope to cover other areas of common interest and data from other jurisdictions.

The platform was launched at the September 2017 meeting of the International Forum of Accounting Standard Setters (IFASS).

More about information about the platform launch can be found in the
press release which accompanied the launch.


Any enquiries about any aspect of the platform should be sent to E: InternationalNFP@cipfa.org

The platform is an initiative of the International Forum of Accounting Standard Setters (IFASS) NFP Working Group. CIPFA currently provides secretariat support for this group.

The platform’s content is provided by those standard setting bodies responsible for the accounting and reporting standards specific to not-for-profit organisations, or associated bodies. Queries in relation to information specific to one jurisdiction will be passed to the appropriate standard setter.