Published articles: Non profit organisations |
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Income recognition principles in charity financial reporting
Pesh Framjee explains how current financial reporting standards and guidance should be interpreted. As published in Caritas magazine.
Should charities always recognise projected legacy income for accounting purposes?
Being assured of a legacy for income projection purposes doesn’t mean you can automatically recognise it for accounting purposes. Pesh Framjee examines the practical implications.
How charities should deal with employment taxes - Unlike other taxes, such as corporation tax and VAT, employment taxes affect charities in exactly the same way as any other type of employer. There are several issues which charities, in their capacity as employers, should bear in mind.
Heresy from an accountant - beyond financial reporting for non-profits
Charities are need to look beyond pounds and pence to provide adequate and useful measurement in order to satisfy scrutiny and to attract donors.
Governance issues affect charities as much as they do companies
Governance issues continue to move centre stage in charities where the key issues that need to be addressed are matters of board/management roles and board size.
In an effective governing body, less is often more
Many organisations have recognised that mixing representation tasks with governance can make it increasingly difficult for either to be carried out effectively.
Voluntary but not amateur
The charity sector is more business-like than you may think, but with all the benefits of a well-oiled professional operation, come the pressures too.
New financial reporting guidance for public benefit entities
The Accounting Standards Board has recently published an exposure draft, Statement of Principles: Proposed Interpretation for Public Benefit Entities.
The impact of the international standards on auditing
On 17 December 2004, the Auditing Practices Board (APB) published 30 new international standards on auditing which will replace existing UK auditing standards and align them with international auditing standards.
The impact of the Statement of Recommended Practice (SORP) on charities
The charity sector, with income estimated as being in excess of £20bn, is an important part of the UK economy, so it is not surprising that charity accountability is moving centre stage.
The new focus for charity reporting is on measuring output, outcomes and impact
Increased competitiveness, donor awareness and improved monitoring and evaluation have caused charities to rethink the way they identify, record and report on what matters.
Children's Society: High Court opens the way to claim residual VAT on fundraising costs
A decision of the High Court in the case of Church of England Children’s Society v HMRC has opened the way for charities to claim VAT on fundraising costs.
Customs forced to accept Lennartz applies to property and construction
Following the ECJ decision in P Charles and TS Charles Tijmens, Customs have now confirmed in Business Brief 15/05 that the changes to the UK law made in 2003 to counter use of "Lennartz" planning were ultra-vires.