The paper present the nonprofit entities accounting regulation in Italy and in Spain in an european perspective. After a presentation of activities of nonprofit entities and difference in their governance, the paper presents the accounting regulation for nonprofit entities in Italy (Raccomandandazione sul rendiconto delle aziende nonprofit della Commissione Aziende Nonprofit del Consiglio Nazionale dei Dottori Commercialisti) and in Spain (Plan General de Contabilidad - Adapataciones para fundaciones de competencia estatal y asosciaciones declaradas de utilidad publica por Istitudo Central de Auditoria y Contabilidad) and compare the two regulations. The paper substinues the need for an Europea framework
