Accounting for Charities

Course details

This course will provide an update on the best practice in accounting for charities in NI and ROI including accounting for various types of fund. It will improve understanding of how to account for charities under the current Statement of Recommended Practice “Accounting and Reporting by Charities” SORP 2005 . It will also provide an update on the current legal and accounting requirements for charities in Northern Ireland and in the Republic of Ireland.

Who should attend this course?

All those involved in charity accountingeither as a practitioner or as a charity accountant. For accountants who sit oncharity boards, it will further their understanding of the principles ofcharity accounting. It will also help audit and accounting trainees who will beworking with charity accounts.

Topics covered include:

• Impact on the sector of the Charities Act 2009 (ROI) and Charities Act 2008 (NI)
• Principles of charity accounting
• Introduction and background to the SORP “Accounting and Reporting by Charities”
• Reporting requirements under the SORP
• Trustees report
• Statement of financial activities
• Income statement
• Balance sheet/ Statement of financial position
• Accounting policies and notes to the financial statements
• Accounting for charity funds under the SORP and other examples of SORP accounting treatment
• SORP ED and Accounting Under FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”