3 November 2011
The YPLA have issued updated guidance on the requirement to complete an Abbreviated Accounts Return (AAR) for 2010/ 11.
The requirement to submit a detailed Income and Expenditure account with Academy Trusts' financial statements has been removed and, instead, income and expenditure data will be submitted through a much simpler income and expenditure account, provided for within the AAR.
The AAR is a standard Excel template, which makes data input simple and comparative analysis more consistent. The AAR also includes a short section on balance sheet information, which can easily be extracted by Academy Trusts from their audited financial statements.
The data contained in the AAR will be used by the YPLA to assess financial performance and to share benchmarking data.
Once Academy Trusts’ financial statements are prepared and audited, it should be a straightforward task for Academy Trusts to key their data into the AAR using the guidance provided and submit the return to the YPLA by 31 December 2011.
The AAR does not form part of the audited accounts, and does not require any form of external scrutiny from, for example, Academy Trusts' auditors.
The guidance takes form as Chapter 4 of the Accounts Direction 2010/11 which supplements the first three Chapters issued at the end of August.
The AAR spreadsheet is available for download from the YPLA website.
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