This training on Accounting for Associations and Charities a discipline highly business-oriented a sector in high demand that requires qualified professionals. For those looking for to train and acquire skills practical experience in the field of accountancy and finance, particularly in the context of associations and foundations, this course on «Accounting for Associations and Charities» is the ideal approach. Participants will develop the key skills to carry out analyses economic and financial basic skills within these organisations, preparing them for move forward in their career paths in this specific sector. As make progress in the course, students will understand how to apply the legislation and regulations
Corporate
Corporate
40 hours
Accounting for Associations and Charities
Corporate
40 hours
Introduction
Objectives
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Understanding the accounting obligations of foundations and associations.
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To familiarise yourself with the new General Chart of Accounts for ESFL 2011.
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To familiarise oneself with the Conceptual Framework for Accounting.
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To have a thorough understanding of the accounting standards relating to non-financial fixed assets.
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Understanding the regulation of financial assets and shares.
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To learn about funding, grants and the distribution of surpluses.
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Prepare annual accounts in accordance with the relevant accounting standards.
Table of Contents
TEACHING UNIT 1. THE ACCOUNTING OBLIGATIONS OF ASSOCIATIONS AND FOUNDATIONS. THE ACCOUNTING STANDARDS FOR ESFL. THE CONCEPTUAL FRAMEWORK.
1. The accounting obligations of foundations and associations. The new accounting standards.
2. The Conceptual Framework for Accounting
TEACHING UNIT 2. ACCOUNTING STANDARDS APPLICABLE TO NON-FINANCIAL FIXED ASSETS.
1. Tangible fixed assets. Application of the general rule.
2. Non-cash fixed assets
3. Contribution of fixed assets to the foundation’s endowment
4. Fixed assets transferred without consideration
5. Historic Heritage Assets
6. Intangible fixed assets. Rights of use.
7. R&D expenditure.
8. Other intangible fixed assets
TEACHING UNIT 3. ACCOUNTING REGULATIONS APPLICABLE TO FINANCIAL FIXED ASSETS AND STOCK.
1. Financial assets
2. Current assets: stock
TEACHING UNIT 4. NET ASSETS: ENDOWMENTS AND GRANTS.
1. Initial funding
2. Grants, donations and bequests
3. Distribution of surpluses: write-off of losses.
TEACHING UNIT 5. INCOME, EXPENDITURE, CREDITS AND DEBITS RELATING TO THE CORE ACTIVITIES OF ASSOCIATIONS AND FOUNDATIONS.
1. ESFLs’ own expenditure and revenue
2. Credits and debits relating to own operations
TEACHING UNIT 6. ANNUAL ACCOUNTS OF ASSOCIATIONS AND FOUNDATIONS.
1. Standards for the preparation of annual accounts
2. The balance sheet
3. The profit and loss account
4. Practical example
5. The report
6. Information on activities
7. Action plan
8. Inventory
9. Mandatory allocation of income and revenue
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