CHARITY MANAGEMENT

EXTERNAL FINANCIAL STATEMENTS

OVERVIEW

WHAT IS THE LEGAL NATURE OF THE CHARITY?

YOU CANNOT IGNORE THE SORP

THE ANNUAL REPORT

THE STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNT)

THE BALANCE SHEET

THE CASHFLOW STATEMENT

THE NOTES

SOME DIFFICULT AREAS

• Income

• Recognition Donated Assets,

• Goods and Services

• Fixed Asset

• Valuations and Depreciation

• Capital or Revenue Reserves Policy