Finance and Accounting

Robust accounting and good financial management practices within charities is of utmost importance and a charity’s annual accounts speaks volumes about the way in which a charity is run and importantly, acts as a valuable marketing tool for a range of stakeholders.

Charities face an ever evolving financial environment with new regulations to be adhered to and this area of the website helps you navigate the changing face of charity finance and accounting.

This section keeps you up to date on the latest developments taking place in the sector and enables you to help shape future government policy by taking part in consultations and campaigns.

Statement of Principles for Public Benefit Agencies

CFDG has produced the following briefing note on the Statement of Principles for Public Benefit Agencies issued by the ASB on 28 June 2007.

Funding relationship with government

HM Treasury Charity and Third Sector Finance Unit is responsible for strategic policy development across HM Treasury on third sector issues. The Office of the Third Sector has research on central and local government spending on the Third Sector.

Useful reports include:

'Working with the Third Sector' - National Audit Office, June 2005
'Improving Financial Relationships with the Third Sector: Guidance and purchasers' - HMRC, May 2006
'Research on Third Sector Access to Finance' - report to the Office of the Third Sector, May 2007

SORP 2005 Resources

CFDG plays a key role in the development of the Statement of Recommended Practice (SORP) for charity financial reporting and we are represented on the SORP Review team. The following sources of information will take you to some of the many resources for those implementing SORP 2005.

Websites

Charity Commission - Help with preparing Charity Accounts and Reports.
Charity Commission - "File Early" practical guide.
Charity Commission - Charities SORP 2005 - Information Sheet No 1.
CFDG - Directory of SORP compliant accounts.
ICAEW - Sources for SORP guidance.
Association of Charitable Foundations - SORP Guidance for grant-making charities.

Documents

Buzzacott - "Need to know"
Sayer Vincent - "Introduction to SORP 2005"
Chantrey Vellacott DFK - "Enhancing the Words, Presenting the Numbers"