Table of Contents

Chapter 1 - Voluntary Sector Environment - definitions, history: Introduction, The Issue of Definition, The Legal Definition, Alternative Definitions, Are There Distinct Sectors? Religious Influences, The State and Charity, The Conservative Government 1979-1987, New Labour, Conclusion.

Chapter 2 - Management Issues: Governance, The Charity Commission and Charity Trusteeship, Charity Organizations and Governance, The Role of the Charity Secretary, The Financial Management Role of the Management Committee, Internal Auditing, The Planning Process, Programme and Organizational Resource Assessment, Case Study, Questions, Analysis of case study, Providing Information, Sources of Information, Case Study/Role Play - Managing a Financial Crisis.

Chapter 3 - Charity Accounts: the background: Introduction, Developments Leading to the Charities Acts 1992 and 1993, Charities Acts 1992 and 1993, Statement of Recommended practice (SORP), SORP aim, prescriptive approach, words, numbers, investments, overhead costs, summarised accounts, trading activities, branches, accounting concepts, 'light touch' approach, glossary, conclusion, Review of SORP, Charity Commission SORP Consultation, the changes, what's new, revised/extended, Charity Commission Aim, general principles, timing, Research on Charity Accounts and SORP Compliance.

Chapter 4 - Published Accounting Standards: Introduction, Stakeholder Reporting, Accounting for Smaller Charities, receipts and payments accounts, statement of assets and liabilities, notes to the accounts, accruals, change to basis of accounting, special aspects, Evaluation of the Statement of Financial Activities (SOFA), disclosures, reasoning, format, Statement of Financial Activity - Example Arts Theatre Trust Limited, Balance Sheet, introduction, presentation, balance sheet example, checklist, Cashflow Statement, History, FRS1, SORP, exemptions, Example, Disclosure of Accounting Policies and Notes to the Accounts, introduction, accounting standards, accounting policies/notes, checklist (extract), Summary Financial Information and Statements, introduction, content, incorporated charities, other summary financial information, SORP Exercise, further information.

Chapter 5 - Issues in Charity Accounts: Introduction, Fund Accounting, unrestricted income funds, designated funds, restricted funds, endowment funds, fund assets, accounts presentation, fund accounting SORP disclosure check list, Incoming Resources, introduction, conditions and restrictions, legacies, intangible income, gifts in kind, other income, netting off, Expenditure, introduction, grants, cost allocation, support costs, cost of generating funds, management and administration, conclusion, Trading-Operating Activities, introduction, check list, economic mix, Branches, introduction, definition, autonomous branch? accounting, role of branch treasures, overseas branches.

Chapter 6 - Regulatory Framework and Audit Requirements: Regulatory Framework, The Charity Audit - Some Important Aspects, introduction, requirements, some overall considerations, audit scope, audit should provide, fundamentals of an effective audit, auditing income, why are these questions important? auditing expenditure, audit evidence, internal controls, review of financial statements, going concern, statutary reports, summary financial information and statements, auditors statement to the trustees, respective responsibilities of trustees and auditors, basis of opinion, opinion, whistle blowing, audit management report, conclusion, Independent Examination, introduction, what is an independent examination? who can be an independent examiner? the independent examiner report conclusion, Trustees Annual Report, introduction, charities act 1993, regulations, SORP.

Chapter 7 - Management Accounting for Voluntary Organizations: Introduction, Cost Accounting, costing a service, overhead costs, unit costs and analysis - a warning, activity based costing, cost behaviour, Example, answer, Breakeven Analysis, example, Budgeting, budget planning, types of budget, preparing forecasts, structuring the budget, budgets and budgetary control, Examples, Budgetary Control - Fixed v Flexible A Worked Example, notes, discussion, Communicating and Computerising Financial Information, Cost Volunteering, Conclusion, Illustrative Exercises.

Chapter 8 - Performance Evaluation for Voluntary Organizations: Introduction, Value, Maximising Income, Income Sources and Risk, Maximising Resources, forming alliances, mergers, outsourcing, Cash Flow Planning, The Importance of Planning, Investment Planning, time horizon, income needs, legal powers, non-financial criteria, Restricted Funding and Overhead Costs, Funds and Reserves, Case Study - St Dunstan's, Performing Monitoring, Aims, Inputs Outputs and Outcomes, Ratio Analysis, Exercise, category 1 - funds analysis, questions, category 2 - Liquidity, category 3 - management costs, category 4 cost of generating funds, category 5 - resources arising (income), category 6 - asset investment and performance, Limitation of Ratio Analysis - Administration and Fundraising Costs, Project Appraisal Techniques, Discounted Cash Flow, Allowing for Risk, Cost Benefit Analysis and Limitations of DCF applied to the Voluntary Sector, Illustrative Exercise, revised option at 10% cost of capital, Social Accounting and Audit, Conclusion, Exercises, Appendix- DCF Tables.

Chapter 9 - Banking and Investment: Introduction, Reserves - The Legal Question, introduction, priorities, what are reserves? is there a need for a sector-wide policy? why should charities have a reserves policy? how does a charity establish a reserves policy? reserves and the SORP, Reserves - A Case Study - Cancer Research Campaign (CRC), introduction, financial background, the need for reserves, income, tackling this situation, reserves policy, the story since then, conclusion, Reserves - Trustees' Report, Examples, Art Theatre Trust Limited, Investments, introduction, fixed assets, property, valuation, current asset position, analysis, gains and losses, Choosing an Investment Manager, introduction, what to look for when choosing an investment manager? product versus service, the question of costs, Fraud - The Urgent Case for Investor Protection, the problem, internal controls, publicity, increase in sales, charity frauds, another investment fraud, lessons for charities, insurance, conclusion, Exercise - Responsibility and the New Trustees Act 2000.

Chapter 10 - Charity Tax: Introduction, The Main Exemptions - Income, Gains, and Inheritance Tax, income tax, corporation tax, capital gains tax, restriction of the exemptions, where the restriction operates relevant income and gains, qualifying expenditure, non-qualifying expenditure, repayment of loans, inheritance tax, Trading Activities, Fundraising Activities, small scale trading, companies owned by charities, profit retention, profit transfer, Giving to Charity, deed of covenant, tax treatment, 2000 budget changes, gift aid, general rules prior to 5th April 2000, forms, Benefits, relevant value test, aggregate value test, Record Keeping, Audit, Reclaims, Marketing, payroll giving (give as you earn).

Chapter 11 - Future Directions: Regulation and the Charity Commission, Charity Trusteeship and Organizational Accountability, Professionalism and Human Resources, SORP and Auditors, Performance - Economy and Efficiency, New Equity Finance - Trusts or Borrowing, Mergers and Co-operations, Smaller Voluntary Organizations, The Wider Environment - into the twenty-first century or back to the nineteenth? Map of the Voluntary Sector 2010.

Appendices, References.