Acumon Releases Practical Guide for Charity Accounting Services

The guide aims to assist charities in selecting the right accounting services, covering a wide range of financial management and reporting needs.

Acumon works with over 300 organisations across the wider not-for-profit sector, including more than 120 charitable organisations. The firm provides a comprehensive suite of services, including annual accounts preparation, fund accounting, bookkeeping, tax compliance, and financial management. These services are tailored to meet the specific requirements of the charity sector, ensuring that organisations comply with the Charities Statement of Recommended Practice (SORP) and the updated Charities SORP 2026.

One of Acumon's key services is the preparation of charity accounts in accordance with SORP, which includes the statement of financial activities (SOFA), balance sheet, supporting disclosures, and trustees' annual report. The firm also supports charities with the reporting changes introduced under the Charities SORP 2026, such as updated income recognition and lease accounting requirements.

Fund accounting is a crucial part of Acumon's charity services. The firm helps organisations maintain accurate records of restricted, unrestricted, and endowment funds, ensuring that grants, donations, and other income are recorded and reported according to the conditions attached to them. This service is particularly important for charities managing restricted income and grant-funded groups.

In addition to accounting and bookkeeping, Acumon provides independent examinations and statutory charity audits through its registered audit practice. This allows the firm to support charitable organisations with different levels of financial reporting and external assurance requirements. The firm also advises charities on Gift Aid claims, charity VAT, tax exemptions, and trading subsidiary arrangements, helping to improve financial reporting, maintain regulatory compliance, and strengthen financial controls.

Acumon's services are available to a diverse range of charitable structures and not-for-profit activities, including registered charities and charitable companies, charitable incorporated organisations (CIOs), charitable trusts, community organisations, and grant-funded charities. The firm works closely with trustees, finance teams, and charity management to ensure that organisations maintain accurate accounting records, monitor restricted funding, and prepare financial information for trustees, regulators, and funding bodies.

Regulatory licences and registrations support Acumon's accounting, assurance, and regulatory compliance services. The firm holds several professional audit registrations and licences, including UK statutory audit registration, Public Interest Entity (PIE) audit licence, Jersey audit licence, Isle of Man audit licence, Cayman Islands audit licence, and British Virgin Islands audit licence. These registrations enable Acumon to undertake charity audits in accordance with applicable auditing standards and regulatory requirements.

Acumon's core services cover both annual reporting obligations and ongoing financial management. The firm helps organisations maintain accurate accounting records, monitor restricted funding, and prepare financial information for trustees, regulators, and funding bodies. Additionally, Acumon advises on trading subsidiary structures, grant reporting, and financial controls, working together with accounting and tax specialists to address the financial obligations associated with charitable activities and income-generating operations.

For charities preparing annual accounts under the Charities SORP, managing restricted grants and multiple funding streams, preparing for an independent examination or statutory audit, or improving Gift Aid claims, VAT compliance, and financial reporting processes, early involvement from specialist charity accountants can be particularly beneficial. Acumon's experienced professionals can establish appropriate financial records, reporting procedures, and compliance processes that support the organisation's ongoing activities and trustee responsibilities.

To learn more about Acumon's services and download the full guide, visit the firm's website at https://acumon.com.