Thinking of Converting

Thinking of Converting

For Schools Wanting to Convert to an Academy

Conversion brings significant changes in setting up a new financial accounting and reporting structure and can cause a temporary additional workload - most likely for the School Business Manager.

Our consultants can help you steer a smooth path through conversion and ensure you will be able to open on Day One with an effective chart of accounts which reflects the required reporting structure and supports the production of year-end financial statements and all DfE submissions required in the first year.

We Deliver

2 half-days of support:
• To ensure the chart of accounts and system mapping supports the production of EFA returns
• Producing your:
– User-defined management report
– Finance Policy
– Fixed Asset Register

Electronic tools and templates:
• Electronic chart of accounts and mapping tool
• Conversion planner checklist
• Finance Policy template

Advice on:
• Funding and accounting differences for the new academy
• The treatment of inherited assets and liabilities
• VAT returns



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