Annual Reports & Accounts for the Charity Sector - An Introduction - Learn Live

Introduction

Charity annual reports and accounts are very different to those of companies in the 'for-profit' sector.

This virtual classroom session uses case studies and real-life examples to provide a detailed insight into the key aspects of a charity's financial statements and links these back to the principles underpinning charitable status.

Focussing on the latest requirements and best practice it covers the key accounting treatments and disclosures that are unique to charities. It also looks at the frameworks for performing a charity audit or independent examination.

This introductory session is targeted at accountants and auditors with limited prior experience of charity accounts and also charity staff who are new to finance and statutory reporting. An understanding of general accounting principles is assumed.

What You Will Learn

This live and interactive session will cover the following:

• The key features of the regulatory and legal framework applying to charities, including the requirement for audit and independent examination
• The format and content of charity accounts under the charity SORP and how these differ from accounts in the 'for profit' sector
• Key considerations for compiling a Trustees Annual Report and why this is important
• Trickier income recognition and fund accounting issues often faced by charities
• The rationale behind charity specific disclosures and practical considerations when preparing them
• The approach to a charity audit or independent examination and how to deal with some of the more challenging charity-specific issues