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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
Maria da Conceição da Costa Marques
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DOI:10.17265/1548-6583/2022.02.003
Affiliation(s)
ISCAC Coimbra Business School, Coimbra, Portugal
ABSTRACT
The Non-Profit Sector (NPS) is composed of several non-profit institutions, whose social objectives and purposes are of general benefit to society and independent of the government and companies. Nonprofit foundations present themselves in modern society as philanthropic and altruistic agents. Foundations play an extremely important role in society because they act autonomously, in a long-term project and preserve their own economic resources, playing the role of substitutes for the state. There are foundations of a public and private nature. The current accounting standards approved for the NPS were developed and considered the different objectives and specificities of this type of entities. Through the accountability process, reliable information on the management of funds entrusted to foundations, as well as the results obtained during activities, is provided to all stakeholders.
KEYWORDS
third sector, nonprofit entities, foundations, accounting, sustainability
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