Complexities of predestination
Pesh Framjee gives a practical summary of why the principles of fund accounting are so important...
Understanding and adhering to the principles of fund accounting is critical for charities and the financial accounts must be clear on the issues relating to funds. The principles of fund accounting are fundamental to trust law and are not merely accounting requirements. Because of the constraints of trust law and the complex area of donor-imposed restrictions, it is vital that proper fund accounting is followed to prevent a breach of trust.
Author: Pesh Framjee
Pesh Framjee Pesh Framjee, Head of the non-profit unit at Crowe Clark Whitehill is Special Adviser to CFDG and is a member of the Charity SORP Committee. He has worked with charities for over 35 years and advises charities on financial, governance and strategic matters.
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