Charity accounts: simple, accurate and clear

Article Abstract:

The Charity Commissioners' Accounting Review Committee hasproposed the development of a new SORP to make charities' annual accounts and trustees' reports simpler, clearer, more accurate and more understandable for the public and technical users. SORP 2, proposed in the Committee's recent exposure draft, is designed primarily as a voluntary code of practice for British charitable organizations. All unincorporated charities with gross income in excess of 25,000 pounds sterling will be subject to the new SORP's provisions pertaining to the preparation of annual accounts. Provisions associated with the preparaton and filing of annual reports by the trustees will be applied to all registered charities. The more salient points addressed in the Committee's exposure draft are briefly discussed.

Educational, religious, etc. trusts, Standards, Accounting and auditing, Charitable trusts, Charitable contributions, Charitable donations, United Kingdom. Charity Commission

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Plain and Simple Trading Terms Reap Dividends

Article Abstract:

A sound credit policy and clear terms of sale can keep the funds management in order. The reasons for a credit policy are: need for cash management, inflation, interest, overtrading, inflexibility of bank finance, ability to raise finance, debtors obtain a discount by not paying, and bad debts. The three principal forms of credit agency are credit insurance, factoring and collection agencies. General advice on the credit policy is: terms of sale are important, policy must be understandable by everyone in your company, do not give the profits away, always politely enforce policy, and consider outside agencies if traditional means of funding working capital no longer meet the needs.

Analysis, Credit management

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Deciding dividends

Article Abstract:

This article describes the need for corporations to develop dividend policies. Alternative methods for paying dividends, the relative unimportance of advance corporation tax, and the consequences of no dividend policy are discussed.

Evaluation, Dividends, Stockholders, Beliefs, opinions and attitudes

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