BUFDG updates its resources for institutions applying the FRS 102 further and higher education SORP

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27 Jun, 2016

The British Universities Finance Directors Group (BUFDG) has issued a revised version of its Model Financial Statements for institutions applying the FRS 102 further and higher education SORP, as well as a conversion tool.

BUFDG has amended its resources available to assist users of the SORP Accounting for further and higher education as set out below.

  • The Model Financial Statements have been amended to clarify various presentation issues, principally in relation to capital grants; and
  • A new conversion tool, which moves from current UK GAAP to FRS102 and demonstrates how each of the adjustments impacts the balance sheet, statement of comprehensive income, statement of equity and cash flow, has been made available.

Both of these documents are available from the dedicated SORP resources page of the BUFDG website, as is the BUFDG press release.

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