Accruals for Legacy Income
A charity that receives any income from legacies will need to ensure it complies with strict accounting principles and requirements. This will give you an overview of the accounting principles and requirements in relation to a charity’s income from legacies.
What you will learn
- Accounting frameworks
- Charities SORP
- How to recognise legacy income
- How to disclose it in your accounts
Completing the course
You must mark each section complete in order to successfully complete the course, but you can return to the sections at any point. At the end of the course you will complete a quiz, which can be retaken if you do not reach the pass mark of 80%. You will also be asked to submit a short written assignment. Upon successful completion of the quiz and assignment, you will receive your certificate!
Once enrolled, you can also download and print the full course notes and a one-page reference guide from the materials section. We recommend printing the full course notes before you take the quiz.
You will still be able to access the course in full at any time from the My Account section of the website, even after you have completed it.
About the author
Daniel Chan, PwC
Daniel is a Director at PwC. His expertise includes charity accounting and reporting. He is a member of the SORP Committee, Vice Chair of the ICAEW Charity Committee and a member of the CIPFA Charities and Public Benefit Entities Board.