This article was previously published on the Leadership Foundation website.
The British Universities Finance Directors Group (BUFDG) has issued new guidance for higher education institutions (HEIs) on the implementation of the new FEHE Standard of Recommended Practice (SORP) 2015 in relation to donations and endowments.
The new guidance is designed to assist HEIs dealing with an important area of change arising from the adoption the new reporting standard for the United Kingdom, FRS 102.
In a change to previous practice new endowments will in future be included in the statement of comprehensive income (SOCI).
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