A.36 What to include in a balance sheet for Charities

Introduction

According to the Statement of Recommended Practices (SORP) ‘’the primary purpose of the trustees’ annual report is to ensure that the charity is publicly accountable to its stakeholders for the stewardship and management of the funds it holds on trust.”

Balance sheet is an integral part of the annual report and serves as a measure of the charity’s performance. All charities preparing accruals accounts must prepare a balance sheet at the end of each reporting period which gives a true and fair view of their financial position.

The balance sheet provides a snapshot statement of a charity’s assets and liabilities and how these are represented by the different classes of funds held by a charity. Doing this course will enable accountants and trustees alike what information is to be legally required to be included with regards to a balance sheet in a trustee’s annual report.

Specifically, the course coves;

• Structure of a balance sheet
• Disclosures of relating to fixed assets
• Disclosures relating to investments and current assets
• Disclosures relating to liabilities and funds

This course is derived from the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)

Who is it for?

• Accountants
• Trustees of charities
• Users of charity information
• Funders and banks

How does it work?

Once you register for the course, we will email you your log-in ID, and you can be on your way to learn right away. It’s that simple.

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You can pay for this program by using a debit or credit card.

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