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Charity accounts part 12: accounting for grants and receivables

This article, the twelfth in our series on charity accounts, will focus on how to account for the various different types of grant and contract based income that charities receive, including unconditional grants, grant income recognition, claw back and disclosures

Charities receive various different types of grant and contract based income. The funding may come from government, local authority, European Union or the National Lottery. To the extent the grants, contracts or service agreements provide core funding or are of a general nature, they will be included in the heading within the SoFA of ‘income from donations and legacies’.

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