# Charity Commission issues revised SORP for charity accounts and reports - Link: https://fundraising.co.uk/2005/03/04/charity-commission-issues-revised-sorp-charity-accounts-and-reports/ - Published: 2005-03-04T00:00:00+00:00 - Author: Howard Lake The Charity Commission has announced the issue of its revised Statement of Recommended Practice: Accounting and Reporting for Charities (SORP). SORP 2005 explains how to meet the requirements when preparing charity accounts and the content of trustees’ annual reports. It comes into practice for accounting periods beginning on or after 1st April 2005, though early adoption is encouraged. The revised Charities SORP builds on the foundations of the previous SORP -updating guidance for new accounting standards and includes developments in reporting practice. It allows charities to apply accounting standards in the right way for their particular needs and to meet the reporting requirements of a wide range of sector stakeholders. Key developments include: ## Advertisement [⌊Posthub advert. You create the campaign. We'll handle the postal journey. Get started at post-hub.co.uk.⌉](https://fundraising.co.uk/ads/posthub-20261007-300x250/) – a new approach to the presentation of the Trustees’ Annual Report, stressing the reporting of activities and performance against a charity’s objectives – an emphasis in the Statement of Financial Activities on the disclosure of the activities, services, programmes and projects undertaken – improved guidance on when transactions are recognised – accounting guidance for new developments such as programme related investments and total return on investments – disclosure of grants made to institutions based on materiality principles. SORP 2005 is now available on the Commission’s website. * **[CFDG welcomes publication of SORP 2005](https://fundraising.co.uk/2005/03/04/cfdg-welcomes-publication-sorp-2005/)**( 4 March 2005) * **[New Internet-only software division from JA Computer Solutions](https://fundraising.co.uk/2005/03/07/new-internetonly-software-division-ja-computer-solutions/)**( 7 March 2005) * **[Travel insurance affinity deal tailored for Migraine Trust](https://fundraising.co.uk/2005/03/28/travel-insurance-affinity-deal-tailored-migraine-trust/)**( 28 March 2005)