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Circular 03/08 : finance : further education colleges : accounting policies and return of audited financial statements

Publisher
Learning and Skills Council
Publication Date
Disciplines
  • Education

Abstract

Further education colleges: accounting policies and return of audited financial statements: Circular 03/08: supplement D - guidance to the preparation of the notes to the financial statements Supplement D to Circular 03/08 Guidance to the Preparation of the Notes to the Financial Statements Contents paragraph General Accounting Policies and Components of the Financial Statements 1 Notes to the Financial Statements 5 Corresponding Amounts 8 Accounting Standards 10 Substance over Form 12 Financial Reporting Standard for Smaller Entities (FRSSE) 14 I&E Account 16 Note 2: Funding Council Grant Income 17 Adjustments to recurrent funding 20 Note 8: Senior Postholders’ Emoluments 23 Staff Costs Higher paid staff 32 Pay awards 33 Severance payments 34 Governors’ Expenses 35 Cost Relating to Overseas Activities 36 Exceptional Items 39 Exceptional Support Funding 43 Accounting for Fixed Assets 46 Tangible Fixed Assets 50 Initial measurement 51 Valuation 57 Depreciation 59 Disclosure 60 1 Impairment 61 Disposal of Fixed Assets 71 Financial memorandum 73 Accounting treatment 78 Accounting treatment for financial statements on or after 1 August 2002 79 Accounting for Grants 81 Arrangements for capital support for major works up to March 1999 83 Arrangements for capital support for major works from April 1999 87 One-off grant 91 Significant Donations Used for Capital Purposes 92 Accounting for Leases 93 Leasehold Property 98 Milk Quotas 99 Current Assets 100 Stocks 101 Long-term Debtors 102 Current Asset Investments 103 Trustee Investment Act 1961 104 Trustee Act 2000 106 Liabilities 111 Provisions 112 Disclosure 120 Pension Schemes Provision for future costs 123

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