The first accounting standard for the non-profit sector

The document, prepared by the working group consisted of the Consiglio nazionale dei Dottori commercialisti e degli esperti contabili (CNDCEC), Agenzia per le Onlus e Organismo Italiano di Contabilità, is published for public comment until 15 January 2011. Project managers are Domenico Piccolo, CNDCEC, Adriano Propane, Agenzia per le Onlus, and Angelo Casò, OIC.

This accounting standard is first addressed to all organizations operating in the “third sector” and is designed to illustrate the general principles underlying the financial statements. This document will be followed by others, dedicated to the accounting items which assume greater significance for the non-profit sector, such as donations and assets.

Please find the press release and the document herewith attached.