The Icsa Guide To Charity Accounting

The ICSA Guide to Charity Accounting is an informative and accessible reference for anyone involved in the preparation of charity accounts. This book reviews charity accounting in light of the SORP 2000 and the revised Regulations. After opening with a detailed introduction to charity accounting, the book covers the whole range of accounting requirements, including: Trustees Annual Reports the Statement of Financial Activities the Balance Sheet Accounting Policies Cashflow StatementsSeparate chapters look at how the presentation of summary financial information is dealt with, the issue of consolidation, charitable companies and accounting for smaller charities. There is also a chapter on audit and independent examination.

There is also a comprehensive glossary of terms, and an appendix covering Accounting and Auditing Requirements for Charities.

This new edition is fully revised and updated to take account of the Charities SORP 2005 yet retains the familiar format of earlier editions. This book is packed with practical information and advice on how to make the best of the regulatory regime for charities.

A practical guide to the preparation & presentation of charity accounts. A full discussion of ED 38 & the Statement on Recommended Practice on accounting for charities is included

This sixth edition of Charity Accounting and Taxation provides those who deal in UK charity finances with a clear and easy-to-follow guide to all aspects of preparing annual financial statements for UK charities of all sizes. The book is updated in line with the UK's FRS 102 and the revised Charity SORP. Due to the nature of charities - such as their legal structure and the fact that they deal with money from a large number of third parties - their annual accounts are subject to tight regulation, including a statutory annual audit for most. Last published in 2010, this current edition contains expert guidance from the Buzzacott charity team on preparing all aspects of a financial statement so that it complies with relevant legislation, including the Charities Act 2011; financial reporting standards, including FRS 102 which comes into force on January 1, 2015; and the revised Statement of Recommended Practice (SORP) issued by the Charity Commission in the summer of 2014. The book also provides advice on complying with all tax legislation and suggests planning points that will allow charities to avoid any potential direct pitfalls and manage their affairs in the most tax-efficient way. It is an invaluable source of guidance on preparing and auditing charity accounts prepared in line with the revised Charity SORP. Both finance teams within charities and accountants and auditors in practice with charities among their client base will use this on a regular basis. Contents include: charity * trustees' responsibilities * accounting requirements * trustees' report * accounting policies and accounts structure * statement of financial activities * incoming resources * resources expanded * balance sheet presentation * fixed assets, valuations, and depreciation * current assets, liabilities, and reserves * cash flow statements * notes and disclosures * summarized accounts * Scottish, Irish, and exempt charities * audit and other external scrutiny * tax exemptions and charities * tax and trading activities of charities * tax incentives to donors * charities and VAT * appendices.

Charity Accounts: A Practitioner's Guide to the Charities SORP is packed with practical information and advice on how to make the best of the regulatory regime for charities. It provides invaluable technical guidance on how the financial reporting regulations in Britain relate to charities of different types and what needs to be done to comply, and includes the full text of the SORP itself, the related regulations in both jurisdiction and a useful checklist of disclosure requirements - plus fully worked examples of annual reports and accounts for the main different types of charity. [Subject: Tax Law, Finance Law, UK Law, Charities]

This new edition has been fully revised and updated to take note of the two SORP Information Sheets in issue and to reflect all regulatory changes in England and Wales, such as statutory group-accounting by non-company auditable parent charities and the Charities Act accounts-scrutiny regime for 'small' charitable companies. Also includes the phased implementation of the Charities Act 2006 and the Companies Act 2006 as it affects charities. Charity Accounts: A Practitioner's Guide to the Charities SORP is packed with practical information and advice on how to make the best of the regulatory regime for charities. It explains what SORP 2005 says, what it means in practice, how charities are affected by the new statutory requirement to show what public benefit they aim to provide, among the greater demands and public expectations being imposed on the largest charities (especially in England and Wales through publication of the 'Summary Information Returns' of key data on their governance and performance) and how to ensure full compliance. This book provides invaluable technical guidance on how the financial reporting regulations in Britain relate to charities of different types and what needs to be done to comply, and includes the full text of the SORP itself, the related regulations in both jurisdiction and a useful checklist of disclosure requirements - plus fully worked examples of annual reports and accounts for the main different types of charity. This new edition comes with a number of new and revised appendices for the CD-ROM accompanying the book, including: - Appendix 2: Part VI of the Charities Act 1993: the text of the 'informal consolidation' updating Part VI to the Charities Act 2006 - Appendix 3: the SORP's new 2008 Regulations for England and Wales, which repeal the 2005 Regulations for financial years from 1 April 2008 onwards or upon earlier adoption - Appendix 6: replacement of the Companies Act 1985 accounting provisions by Companies Act 2006 - Appendix 7: the detailed SORP-compliance checklist, now cross-referenced to the 2006 Act(s) and the 2008 Regulations - Appendix 8: all worked examples refreshed by updating to 2009 year-ends Charity Accounts: A Practitioner's Guide to the Charities SORP is an invaluable resource for all charity trustees, finance personnel, auditors, independent examiners and advising accountants.