Accounting for registered social landlords 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 information.
Statements of Recommended Practice
Issuing body
Statements of Recommended Practice (SORPs) relating to registered social landlords are issued by the National Housing Federation (NHF), Community Housing Cymru and the Scottish Federation of Housing Associations (SFHA).
Sources for the SORP and associated guidance
There is no free, online full text source for the Statement of Recommended Practice (SORP): Accounting by Registered Social Housing Providers: Update 2010. However, print copies of the SORP are available in the library.
Useful links
Component Accounting Survey 2012
Factsheet produced by Grant Thornton reporting on its survey of the housing sector. Sections cover:
- components being used
- rate of depreciation
- impact of adoption
- adequacy of historical records
- resource implications
- impact on loan covenants.
Component accounting – what's the plan?
Factsheet published by Grant Thornton in October 2011 discussing the findings of surveys conducted by the firm of housing associations preparing for changes to reporting.
Component Accounting
Summary and links to further guidance from the National Housing Federation on the introduction of component accounting and its impact on housing association financial statements and loan covenant compliance.
The Proposed Revised Accounting Direction for Social Housing in England from April 2012
Consultation document published by the Tenant Services Authority in December 2011 setting out proposals for changes to the accounting requirements for private registered providers of social housing.
Archived documents
Please note that links to archived documents may no longer work if documents have been removed from an organisation's website.
2010
Consultation on the RSL SORP Exposure Draft
Consultation and exposure draft of proposed revisions to the SORP. Published in Spring 2010 by the NHF, Community Housing Cymru and the SFHA.
2009
SORP consultation exercise
Information and associated documents on the NHF consultation in February 2009, including:
Impairment in the social housing sector (SHSC 01/09)
Technical helpsheet issued by the ICAEW in February 2009 to ‘assist practitioners and registered social landlords with identifying current thinking on impairment issues highlighted by the current economic climate‘.
The helpsheet provides the views of the Institute's Social Housing Committee but ‘does not represent the views of the Financial Reporting Committee and is not issued as a technical interpretation of accounting standards but rather a practical approach to some of the current questions exercising practitioners and RSLs’.
A further note states that:
In no circumstances should the contents of this paper be taken to supersede or contradict the requirements of Financial Reporting Standard (FRS) 11 Impairment of Fixed Assets and Goodwill or those of the Statement of Recommended Practice (SORP) Accounting by Registered Social Landlords 2008, both of which any reader of this paper should refer to for more definitive guidance.
2008
Component Accounting for SORP 2010
Discussion paper prepared by the RSL SORP Working Party ‘which sets out the rationale behind component accounting as it applies to social landlords’. The consultation closed on 25 January 2009 and a summary of the responses was published on 10 February 2009 as Component accounting: responses to the RSL SORP Working Party consultation.
Statement of Recommended Practice (SORP): Accounting for registered social landlords 2008
Information from the NHF on the SORP 2008 which replaces the 2005 SORP Update.
2007
Statement of recommended practice accounting for registered social landlords- invitation to comment and exposure draft of the 2007 SORP (ICAEW REP 74/07)
Memorandum of comment submitted in August 2007 by the Institute of Chartered Accountants in England and Wales, in response to the NHF's Statement of Recommended Practice: Accounting for Registered Social landlords; Invitation to Comment and Exposure Draft of the 2007 SORP published in May 2007.
2006
RSL SORP update 2007 (ICAEW REP 59/06)
Memorandum of comment submitted in October 2006 by the Institute of Chartered Accountants in England & Wales, in response to the NHF's consultation paper SORP Update 2007 published in July 2006.
NHF moves to make shared ownership finances clearer (Inside Housing)
Article published in Inside Housing on 27 July 2006 reporting on the publication of an exposure draft of the 2007 SORP which includes ‘proposed reforms that should make associations’ shared ownership activity clearer’.
The NHF began consulting housing associations and other interested parties on a new third (2007) edition of the SORP for registered social landlords on 21 July 2006. The following publications were released:
The consultation period closed on 28 August 2007.
The Accounting requirements for Registered Social Landlords: General Determination 2006 (PDF 164.04kb/32 pages)
Full text of the general determination, as published on 4 May 2006 by the Housing Corporation. The determination includes three appendices which give the format of the balance sheet, format of income and expenditure account, and a suggested format for the disclosure of RCGF and DPF balances. The general determination was announced in Circular 01/06: Accounting requirements for Registered Social Landlords (PDF 93.96kb/9 pages).
2005
Associations to publish private sector reviews
Article published in Inside Housing on 7 June 2005 reporting on the publication of the 2005 SORP and the call for large associations publish more financial information.
The accounting requirements for registered social landlords: General determination 2005 (PDF 45.95kb/6 pages)
Housing Corporation consultation paper published in May 2005.
According to the NHF website, ‘the 2005 SORP Update replaces the 2002 Update and reflects changes in Financial Reporting Standards and other accounting practice, together with key developments and practices in the social housing sector. Highlights of the Update include accounting guidance on: FRS 17 Retirement benefits, Detailed and explicit guidance on capitalisation of fixed assets, Operating and Financial Review, The accounting treatment of agreements to purchase improved property from a third party.
The SORP interprets UK Generally Accepted Accounting Practice for social landlords. The 2005 SORP Update has integrated the new and previous SORP guidance and applies to accounting periods commencing on or after 1 January 2005, although earlier adoption is recommended’.
2003
Accounting for Supporting People (PDF 828.65kb/12 pages)
Good Practice Note published in February 2003 by a partnership of the Housing Corporation and the NHF. The good practice note details the accounting treatment to be used ‘by housing association and voluntary sector providers of Supporting People services’.
2000
The accounting requirements for registered social landlords: General Determination 2000 (PDF 87.68kb/24 pages)
Full text of the General Determination 2000, as published by the Housing Corporation in February 2001.
The General Determination 2000 was announced in Circular R2-04/01: Accounting requirements for registered social landlords on 26 February 2001. The General Determination 2000 superseded the requirements of the Accounting Requirements for Registered Social Landlords General Determination 1997 and 1998. The General Determination 2000 was superseded by the General Determination 2006 on 4 May 2006.
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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