The accounting process
Useful accounts are the result of a process
Cathedrals and churches that have commercial operations that enable them to reclaim VAT will use the banding method, also known as apportionment of tax by cathedrals and churches.
Types of funds and examples of how the best to approach managing them. Fund accounting and reporting is a unique requirement for not-for-profit organisations and is one of the differences between charity and commercial business financial reporting.
Charities face the same regulatory pressures as commercial organisations but, in addition, must also deal with complex sector-specific reporting requirements intended to demonstrate good stewardship to supporters and regulators alike.