Standard Chart of Accounts
A National Standard Chart of Accounts to be Implemented
At a recent COAG (Council of Australian Governments) meeting, it was agreed that a National Standard Chart of Accounts be developed for finance reporting across the nonprofit sector in Australa. State governments of Queensland, NSW, WA and Victoria have previously adopted individual SCOAs. This new move will bring continuity of reporting standards across the sector nationally. This standard is due to be implemented by 1 July 2011.
