Die Rekeningkundige Erkenning van Bates en Verwante Uitgawe deur Niewinsgewende Organisasies met Verwysing na die NG Gemeentes in die Vrystaat

Abstract

Not-for-profit organisations, and specifically the congregations of the Dutch Reformed Church in the Free State Province of South Africa, experience certain problems in the accounting treatment of assets in terms of Generally Accepted Accounting Practice (GAAP). GAAP is not specifically applicable to not-for-profit organisations. This article highlights the accounting problems experienced with regard to assets and discusses the principles of some accounting standards already issued specifically for not-for-profit organisations in the United States of America, Canada, the United Kingdom and Australia, and presents the results of empirical research on how the assets of not-for-profit organisations should be accounted for. Recommendations on the most appropriate way of accounting for assets by not-for-profit organisations are outlined.