The voluntary sector contains over 50,000 organizations, 320,000 paid staff, and 3 million volunteers. The accounting and financial management of organizations in this sector poses as many difficulties as that of major for-profit organizations, if not more so, given the absence of the profit motive upon which much traditional accounting, finance practice and theory has been developed.
This book explores the unique environmental, managerial and philosophical aspects of voluntary organizations as well as the technical specialist characteristics of financial accounting, auditing and taxation that differentiate their role.
Introducing and providing descriptions of the main applications of accounting and finance applicable to the role of financial manager, this book uses real life case studies and examines the debates presented by other writers in the field. This key book helps readers make their own critical judgements, and contributes to their understanding of the distinctiveness of voluntary sector accounting and financial management.
Paul Palmer has published widely on, and worked extensively in, the field of charity finance. He is currently Head of the Centre for Charity and Trust Research at South Bank University, where he is also Charity Courses Director.
Adrian Randall is an independent Charities Management Consultant, and is a nationally recognized leading expert on charity financial management. He has gained widespread experience of the sector through a variety of roles, and is currently a member of several groups and committees in the charity field.
'A good textbook for university courses concerned with charity finance; it aims to give the reader the resources for critical reflection on the issues and succeeds well in this ... For any independent examiner who wants some answers to the "why" questions in charity finance (not just some step by step "how to do it" advice), this book will be a vital resource.' - Independent Examiner