ED 38: need for a charitable rethink

Article Abstract:

Charitable trusts in Great Britain have become large businesses in their own right, and as such they need to adopt business accounting standards. There are now a total of 160,000 registered charities, 200 of which have an income in excess of 300,000 pounds sterling annually. Exposure Draft 38 attempts to provide some guidelines for accountability for charities, but the proposal fails to establish a preferred accounting standard for charities, does not require investments to be included in the balance sheets, and calls for the fixed assets of charities, which often have no marketable value, to be capitalized. One was to improve the accounting practices of charities would be to require a foundations to produce an annual audit.

Standards, Accounting

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Winning ways with words and pictures

Article Abstract:

The winners of the UK Charity Annual Reports and Accounts Awards are listed. The judges noted a reduction in the volume of material received from each contestant. The reports were more economical than in the past and they featured more graphs and charts for reader reference. Many of the reports had poorly-reproduced photography which reduced their visual appeal. The finalists in the category of trusts that had an income of over one million pounds sterling included Friends of the Earth, Mary Rose, Woodland Trust, and Guide Dogs for the Blind with assets over 80 million pounds sterling.

Corporation reports, Company reports, Charitable societies, Great Britain

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Communicating compassion

Article Abstract:

Accountancy magazine, the Charities Aid Foundation, and the Voluntary Movement Group jointly award prizes to the British charities which produce the best annual reports. The reports are judged on the basis of the clarity and soundness of their financial reporting and the artistic quality of the reports' format. The winning entries were the reports of the National Society for the Prevention of Cruelty to Children; Contact, an organization which provides companionship for elderly people; and the National Federation of City Farms.

Financial statements, Accountancy (Periodical)

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