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Accounts direction handbook 2010/11: effective for all colleges’ financial statements ending on or after 31 July 2011

Publisher
Skills Funding Agency
Publication Date
Disciplines
  • Education
  • Law

Abstract

Accounts Direction Handbook Version 1.5 June 2011 1 Accounts Direction Handbook 2010/11 Effective for all Colleges’ financial statements ending on or after 31 July 2011 Summary The Accounts Direction Handbook (the Handbook) consolidates all previous accounting policies guidance and supplements the 2007 Statement of Recommended Practice: Accounting for Further and Higher Education (the 2007 SORP). The Handbook has been prepared in the light of the following objectives: to be a one-stop document that Colleges can refer to when completing their financial statements to provide further clarification to Colleges on completing the members’ report and the accounts to the financial statements to provide a version of the Handbook on the funding bodies websites, which is completely up-to-date for changes in generally accepted accounting principles issued by the Accounting Standards Board and other guidance issued by the Learning and Skills Council (LSC) and its successor bodies. This Handbook is of interest to principals and chief executives of Colleges, finance directors at Colleges, financial statements auditors, directors of funding bodies, and other key organisations in the Learning and Skills Sector. Extracts from this publication may be reproduced for non-commercial educational or training purposes, on condition that the source is acknowledged and the findings are not misrepresented. June 2011 Accounts Direction Handbook 2010/11 Version 1.5 June 2011 2 Contents Chapter 1: Summary Chapter 2: The Development of Accounting Policies for the Further Education Sector Chapter 3: The Statement of Recommended Practice: Accounting for Further and Higher Education 2007 Chapter 4: Casterbridge College Model Financial Statements Chapter 5: Guidance on the Preparation of the Members’ Report and Notes to the Financial Statements Chapter 6: Detailed Guidance on Specific Topics Accounts Direction Handbook 2010/11

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