Accounts Direction to Further Education Colleges for 2007-08

This guidance is of interest to principals and chief executives of further education colleges, finance directors at FE colleges, financial statements and regularity auditors, regional LSC colleagues and other key organisations in the learning and skills sector.

The purpose of the guidance is to provide direction to colleges and auditors on the preparation of colleges’ annual financial statements. The LSC has worked with the Association of Colleges (AoC) the College Financial Directors Group (CFDG) and consulted with auditors on this guidance, which supplements that in the 2007 Statement of Recommended Practice (SORP) and consolidates all previous accounting policies guidance issued by the LSC.

This guidance applies for the year ending 31 July 2008.

Accounts Direction Handbook 2007/08 Cover

Accounts Direction Handbook 2007/08 Summary

Accounts Direction Handbook 2007/08 - Index

Chapter 1: Amendments Record List

Chapter 2: The Development of Accounting Policies for the Further Education Sector

Chapter 3: Statement of Recommended Practice: Accounting for Further and Higher Education

Chapter 4: Casterbridge College Model Financial Statements

Chapter 4b - Casterbridge College Model Financial Statements - with formulae.xls

Chapter 5: Guidance on the Preparation of the Members’ Report and Notes to the Financial Statements

Chapter 6: Detailed Guidance on Specific Topics

Chapter 7: Finance Record 2007/08

Chapter 8: Notes and Guidance on the Finance Record 2007/08

Finance Record 2007/08 

 Enhanced Pension Provision Yield Indices