Following the introduction of a new UK financial reporting framework, all higher education institutions will be required to prepare their financial statements under Financial Reporting Standard 102 for the year ended 31 July 2016. In addition, a new Education SORP has been introduced to give additional and specific guidance for the education sector.
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Latest News & Events
Academies Financial Handbook 2018 Update
The Academies Financial Handbook is updated annually by the Education and Skills Funding Agency (ESFA). The latest version of the handbook was issued on 13 June 2018 for all academies for the accounting year commencing 1 September 2018, and can be found here.
Government confirms commitment to National Funding Formula
The new Education Secretary, Justine Greening, has today delivered a Written Statement to Parliament announcing her commitment to introducing fairer funding for schools, high needs and early years.
EFA publish not one, but TWO Academies Accounts Directions 2014 to 2015
The EFA have belatedly published not one, but two Academies Accounts Directions, which are both in place for accounting periods ending 31 August 2015.
Academies Accounts Direction 2017 to 2018
Academies Accounts Direction 2017 to 2018 – our summary of the key changes trustees and finance staff need to be aware of.
2018 academies benchmarking report
We have produced our sixth benchmarking report for academies, covering academies across England and Wales. It is developed to summarise the current academy sector trends and to allow you to benchmark the performance of your school against others.
Academies Financial Handbook 2017
The AFH contains a summary of the main changes, but we have outlined these in the document below along with our own insight and commentary on what the changes may mean in practice, and the action we recommend that you take to prepare.