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Two New SORPs for Charity Accounting

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Implementation of the new Charities Statement of Recommended Practice for accounting and reporting  Two new Charities SORPs have recently been issued representing the first major revision in charity accounting for ten years.

The FRS102 SORP is for the very largest charities and the FRSSE SORP applies to those charities eligible for applying the Financial Reporting Standard for Smaller Entities.  You can read more at www.charitysorp.org where you can download the full SORPs as well as help sheets outlining the differences and changes.

Posted by Ruth Whiter