The Charity Commission (England and Wales) has produced a template pack to help non-company charities with incomes of less than £500,000 prepare their trustees’ annual report and accruals accounts in accordance with Charities SORP FRS 102.
The Accruals Accounts pack (CC17) links to
- Charity accounting templates: accruals accounts
- Independent examiner’s report template
- Trustees’ annual report template
They are in pdf as well as Excel/Word format. » Continue reading news item ... “SORP accrual accounts templates for small charities”
The Charity Commission for Northern Ireland has published new guidance for charities on their duties under the new accounting and reporting regulations.
These regulations apply to all charities registered with CCNI with a financial year starting on or after 1st January 2016, but the Commission is strongly recommending that all charitable organisations should apply them as a matter of good practice.
See news items from CCNI or NICVA, or go direct to the publication page for the suite of guidance. » Continue reading news item ... “Reporting guidance for Northern Ireland charities”
A number of recent articles on financial matters worth a mention.
The new blog from the Charity Commission has ‘Happy new financial year: time for a spring clean‘
“The beginning of the new financial year is the perfect time to reassess your strategy and finances.
“Many charities will already have done this but if yours hasn’t, grab this chance and use our recently refreshed financial guidance to help you.”
» Continue reading news item ... “New financial year brings out the blogs”
Scottish charity regulator OSCR has produced four new example accounts to illustrate how charities should prepare their accounts in accordance with the Scottish Charity Accounting Regulations and the new charity Statements of Recommended Practice (SORPs) that came into effect for charities with accounting periods beginning on or after 1st January 2015.
The 4 examples are for:
- Scottish limited company group accounts prepared under SORP FRS102.
» Continue reading news item ... “Example accounts for current charity SORP standard”
The July newsletter from charity accountants Sayer Vincent mentions that they have produced a new and updated version of their ‘SORP Made Simple’ guide, to reflect changes in the 2015 version of the charity accounting standard.
The guide is designed for people who may be new to the charity sector or otherwise need to understand charity accounts. Go to the relevant newsletter web page and click on the download link (pdf, 177KB). » Continue reading news item ... “Understanding the charity SORP accounting standard”
A consultation on changes in charity accounting standards has started. Changes to UK-Irish accounting practice due to be implemented by the Financial Reporting Council from 1st January 2016 mean that the Charities SORPs (Statements of Recommended Practice) will need to be updated.
The Charity Commission for England and Wales and Office of the Scottish Charity Regulator are the joint SORP-making body. They are consulting on three different matters:
- Charities SORP (FRS 102)
- Replacement for the Charities SORP (FRSSE) for smaller charities
- A revised definition of ‘larger charity’ in the SORPs
See the Charities SORP website consultation page. » Continue reading news item ... “Consultation opens on charity accounting changes”