Upcoming UK GAAP and Charity SORP changes – webinar
Our recent webinar, which took place on 25 November, provided essential guidance on the forthcoming updates to UK GAAP and Charity SORP, helping charities and their trading subsidiaries prepare for significant changes in financial reporting.
Key topics covered:
- Revisions to UK GAAP and charity SORP – including effective dates and the main areas impacted.
- Income recognition under FRS 102 – introduction of the five-step model with practical examples tailored for charities.
- Lease accounting changes – removal of the operating/finance lease distinction for lessees, and the introduction of right-of-use assets and lease liabilities.
- Special considerations for charities – treatment of peppercorn and social donation leases under charity SORP.
- Practical next steps – reviewing income streams and leases, quantifying impacts, updating processes, and communicating with trustees.
Relevant insights
arrow_back
arrow_forward
