Accounting for education is a specialist area that requires expertise and an understanding of the sector. On this page you can access a range of articles, books and online resources providing quick links to Statements of Recommended Practice, guidance and background knowledge.
Statements of Recommended Practice
Issuing body
Statements of Recommended Practice (SORPs) related to further and higher education are issued by Universities UK (formerly known as the Committee of Vice-Chancellors and Principals).
Sources for the SORP and associated guidance
Statement of recommended practice: accounting for further and higher education
SORP published in October 2007, which took effect from 1 August 2007. The SORP is available to download in PDF format free of charge or to purchase in hard copy.
Useful links
School accounts
Explanatory information from the Department for Education.
Academies
Academies Financial Handbook
Guide produced by the Department for Education for the governing bodies and managers of academies with detailed guidance on financial management, funding and accounting issues.
Academies: Accounts Direction 2010/11 (375.89kb/74 pages)
Published by the Young People's Learning Agency in August 2011, the document includes guidance on the preparation of the annual report and the financial statements and model annual report and financial statements for academies.
Archived documents
Supplement A to Circular 04/04: Papers Issued by the Sector Accounting Policies Group
Supplement published in May 2004 that collects together a number of papers issued by the Sector Accounting Policies Group (PDF 26 pages).
Further Education Colleges: Accounting Policies and Return of Audited Financial Statements (Circular 03/08)
Additional guidance published in April 2003. This guidance supersedes Circulars 01/04 and 02/07.
01/04 Supplement A: Specific FE guidance to supplement the SORP
Additional guidance to supplement guidance note 01/04 Finance: Sector Accounting Policies and Return of Audited Financial Statements. This Circular was superseded by Circular 03/08 in May 2003.
Organisations
British Universities Finance Directors' Group (BUFDG)
Group representing finance directors in UK higher education. Resources include a listing of institutions' annual reports and financial statements.
Association of Colleges: Financial Directors
Information on the College Finance Directors Group (CFDG) of the Association. Resources include the Joint Audit Code of Practice and factsheets on VAT and taxation.
Skills Funding Agency
Government body that regulates and funds training and education of adults in England. The website provides information on financial assurance.
Young People's Learning Agency (YPLA)
Government organisation providing financial support for education and training of 16–19 year olds.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
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