The “Academies accounts direction 2021-2022” was released in March alongside the “Academies model accounts” and “Framework and guide for external auditors and reporting accountants of academy trusts”.

The ESF have announced that there will only be a single Academies Budget Forecast Return this year, combining the requirements of the BFR (usually required at the end of May) and BFR(3Y) (usually required at the end of July).

The Academies Accounts Return 2019/20 (AAR) is now live for Academies to upload and submit their 2019/20 financial results.

The ESFA have released their annual guidance on accounts preparation for academies and Multi-Academy Trusts in the Accounts Direction 2019 to 2020.   There have been some minor changes and clarifications in this year’s publication which apply to Academy accounts for accounting periods ending 31 August 2020.
 

In response to the Covid-19 outbreak, the budget forecast return three year (BFR3Y) is the only required budget forecast to be submitted for Academies and Academy Trusts this year.

Academies must submit their three-year budget forecast return (BFR3Y) to the Education and Skills Funding Agency (ESFA) by 30 July 2019.
 

The ESFA have released the Accounts Direction for the Accounting Period ended 31 August 2019.  Find out what the main changes are and how these affect your statutory accounts. 

The workbook released by gov.uk includes a guidance tab to assist in the preparation of the return.

Its BFRO season.  We take a look at what’s changed.
 

The ESFA has released guidance on declaring related party transactions in advance of new reporting requirements coming into force on 1 April 2019.

From 1 April 2019, Academy trusts are required to declare all related party transactions in advance.

Audit Senior, Gemma Roger, highlights the similarities between becoming a new parent and FRS 102.