Charity Accounts Workshop - The Fundamentals

Introduction

Charities play an important role in our society but the nature of their income, how they spend it and the reason they exist at all set them apart from most other organisations that prepare accounts.

As a result, there are some key differences between the annual reports of charities and those of other entities.

This in-person introductory workshop uses case studies and real-life examples to provide a detailed insight into the key accounting treatments and disclosures that are unique to charities and links these back to the principles that underpin charitable status.

Incorporating the latest requirements and best practice, the workshop will also cover the key considerations for the audit or independent examination of a charity.

This workshop is aimed at accountants in practice or those working within charities who are new to charity accounts or who would like to refresh their knowledge. A basic understanding of general accounting principles is assumed.

What You Will Learn

This course will cover the following:

• The key features of the regulatory and legal framework that apply to charities, including the requirement for audit and independent examination
• The format and content of charity financial statements prepared under the Charity SORP and how these differ from accounts in the ‘for profit’ sector
• What makes a good the Trustees’ Annual Report
• Trickier areas including income recognition and fund accounting using relevant SORP principles
• The approach to audit and independent examinations of charities and how to approach the challenging areas unique to charities