Introduction to Preparing Accounts Using the Charities SORP Training

BLOG25th Oct 2017

Volunteering to be a charity trustee is a worthwhile and rewarding role which many people willingly undertake. This role brings with it a number of responsibilities and duties which need to be undertaken with care and diligence, including a requirement to prepare a Trustees’ Report and Accounts each year.

For many charities these documents must comply with the Statement of Recommended Practice (or SORP as it is commonly referred to) and the trustees of such charities should have a basic understanding of the requirements of the SORP in order that they can satisfy themselves that they can approve one of their number to sign off the accounts for submission to the Office of the Charity Regulator and publication.

AAB’s “Introduction to Preparing Accounts using the Charities SORP” course aims to demystify charity accounts for those responsible for preparing and approving charity accounts and will support those looking to:

  • Gain an overview of the accounting framework for charities
  • Produce a Trustees’ Annual Report which tells the story of their charity’s work and the impact is makes, while meeting the compliance requirements
  • Gain confidence in reading the accounting statements and discussing these with fellow trustees, the auditor or independent examiner
  • Demystify some of the terminology around the SOFA (Statement of Financial Activities), the different types of funds, and “accountant speak”
  • Take ownership of their charity’s annual report and accounts; and
  • Hear about forthcoming developments in charity accounting and reporting.

The course will be delivered by AAB’s Charity Specialist Senior Manager, Elaine Parr, on Tuesday 28th November at the firm’s flagship offices at Prime Four Business Park, Kingswells.

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