Category Archives: Academies

Academies, Academy, Academy Trusts

Accounting changes for Academies – 2017

Giles Kerkham

Summary

Following the end of election purdah restrictions, the Education and Skills Funding Agency (ESFA) has issued its annual revision to the Academies Accounts Direction (AAD) 2016 to 2017, which will determine the format of accounts prepared by Academy Trusts for the year to 31 August 2017.

The changes noticed by most trusts will be limited, but there are additional disclosures and clarifications for trusts with specific circumstances.

Read More

How to create impactful reports for your charity

Chris Yeates

Communication with the outside world has never been more important. Making sure you successfully communicate what you are doing and the difference you make to your beneficiaries can mean the difference between future funding being awarded or not. You should communicate not just how funds are spent, but the impact it has, that is, the public benefit you deliver.

Read More

Academies Financial Handbook 2016 – key changes

Chris Yeates

The Education Funding Agency (EFA) has released the Academies Financial Handbook 2016, which is effective from 1 September 2016.

We consider the Handbook essential reading for trustees, members, accounting officers and chief finance officers/school business managers. Must-reads are Annex B: Schedule of freedoms and delegations and Annex C: Schedules of requirements.

Read More

A summary of key changes in the Academies Accounts Direction

admin

A summary of key changes in the Academies Accounts Direction
2014 to 2015 (SORP 2005)
 

The Education Funding Agency (EFA) published the Academies Accounts Direction 2014 to 2015 (“The Accounts Direction”) at the end of June 2015. This document guides Academy Trusts and their auditors in the production of their financial statements for the period ending 31 August 2015.

Read More

“Dear Accounting Officer” letter from the EFA to Academies

admin

The government’s Chief Executive of the Education Funding Agency (‘EFA’), Peter Lauener, has written to all Academies with an update, drawing attention to important points arising from recent work and from the hearings of the Public Accounts Committee. He outlines the requirements of the current financial framework, touching on fraud and irregularity, transactions with connected parties and special payments outside of the usual planned activity of academy trusts.

Read More