After an eagerly anticipated wait the EFA has this afternoon now released the updated version of the Academies Accounts Direction for 2014/15. A link to the new direction can be found here:
|academies accounts direction 2014 to 2015.Please note that for this year there are two accounts directions as follows:
Early adoption is not permitted of SORP 2015 and is only to be used for accounting periods starting on or after 1 January 2015.
All schools that were set up as Academies prior to 1 January 2015 should use the Academies Accounts Direction 2014 to 2015 (under SORP 2005).
Use of the direction under SORP 2015 is only permitted for new academy trusts set up since January this year.
The EFA will be publishing training videos on the new accounts directions in July if you wish to receive some further guidance on the changes.
In addition if you have any queries on the new accounts direction please do not hesitate to contact us.