\ professional development
Go with the flow The Asset Freezing
Unit – financial
The biggest bugbear for accountants in the production of annual accounts
seems to be the dreaded cashflow statement. In many cases, its completion
sanctions
can range from the annoying chore that is attempted at the last minute There are currently 15 financial
(although for good accounting reasons) to an angst-ridden nightmare of trying sanctions regimes in force in the
to hide a balancing figure so that the statement reconciles but that the auditor UK, some country-based, others
won’t spot! However, cashflow woe, keeping fingers crossed and hiding from directed at terrorist financing.
the auditor could soon be a thing of the past thanks to a solution from CIPFA. Members need to be aware of
CIPFA’s automated Cash Flow Statement Toolkit works automatically by how the financial sanctions in
manual input of data to achieve an FRS 1 (Financial Reporting Standard) and force in the UK may impact on
SORP (Statement of Recommended Practice) compliant cashflow statement their work. To find out more
and associated notes. It is accompanied by detailed guidance notes for about this important issue and
completion and training as required. This has been used successfully by over familiarise yourself with relevant
100 local authorities across the UK and has recently been adapted to suit the legislation visit HM Treasury’s
needs of Registered Social Landlords. Asset Freezing Unit (AFU) website.
The toolkit consists of a number of excel worksheets that are completed by You can also sign up to an email
the user which will provide the year-end cash flow figures. Whilst the model subscription service for latest
provides an automated process for many of the entries required, it cannot financial sanctions notices and
provide for the individual peculiarities that each organisation will have. the consolidated list of financial
The toolkit has received excellent feedback as it has provided a user- sanctions targets.
friendly solution that saves time, effort and worry. www.hm-treasury.gov.uk/fin_
For more information please contact Alistair Steenson on 028 9026 6770 sanctions_index.htm.
or alistair.steenson@cipfa.org.uk
Councillors’ Guide to Local Government Finance
Do you need to update or improve your • changes to services (9 minutes The DVD can be used individually,
training for councillors? The recent • hanging structures (9 minutes and for group training or can be made
elections means an influx of councillors 5 minutes) available via a corporate intranet.
new to the role or taking on new r the basic of finance video which Briefing councillors on local
responsibilities. All will need to know distils the important elements of government finance just got much
more about local government finance as local government finance into five easier. For more information and to
the public finances tighten. simple segments: order, please visit the CIPFA Shop at
A new training DVD for councillors • revenue expenditure (8 minutes) www.cipfa.org.uk/shop
provides an introduction to local • capital expenditure (5 minutes)
government financial management. It • scrutiny, audit, stewardship and
is designed for new councillors and for governance (8 minutes)
experienced councillors that want to learn • partnership working (5 minutes)
more about finance. It comprises of: • efficiency (5 minutes)
r an introductory video (2 minutes) r legal issues video (2 minutes) that
that sets the scene and introduces summarises councillors’ legal
the main elements of local responsibilities and liabilities, as
government finance an addition to the main finance
r a current issues video (32 minutes) segments
which is a panel discussion that can r supporting documentation a
be viewed as a continuous video or 24 page easy to read
in four segments. It groups current summary of the main
developments under three main points in the videos,
themes: which provides an easy
• responding to the economic ongoing reminder and
downturn (8 minutes) supplement.
20 CIPFA | Spreadsheet magazine | AUGUST 2009
spreadsheet_Aug09_29Jul.indd 20 29/7/09 12:56:26
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