With 45% of UK secondary schools having opened or applied for academy status, as well as increasing numbers of primary schools; the staggering growth of academies, reflected in an increase of 1,604 in just a two year period, is now demanding a specialised, structured approach to financial reporting for the education sector. In response, leading accountancy software provider, CaseWare, has launched its new academies accounts and audit templates.
Based on the industry model financial statements “Coketown”, the CaseWare academy template offers accountants access to the most comprehensive statutory reporting tool available for the sector – with full academy accounts, paperless audit and Mercia disclosure checklist.
“As a result of the government's expanding Academy programme, there is a clear need for a software package which meets their specific accounting requirements,” said Simon Warren, Managing Director of CaseWare UK. “With a product suite that constantly evolves to meet ever-changing market needs, the introduction of specialist academies accounts and audit templates was the natural progression for CaseWare.”
Academies are self-governing and most are constituted as registered charities or operated by other educational charities, so CaseWare based the new software on its market-leading charity template. Like its predecessor, it also comes with a complete editing tool kit which allows the user to manage the style and presentation settings, as well as tailoring the content for each organisation.
For improved efficiency and accuracy, the template also replicates the Coketown Governor’s Report, adding functionality which allows accountants to define their own reports according to the academy requirements by simply copying and pasting from other text sources. This will once again, enable accountancy firms to produce returns more effectively and in a shorter time frame.
Suitable for accountancy firms of all sizes, the system also offers multiple GAG notes; allowing an unlimited number of supplementary tables to be added. Befitting of CaseWare’s core development focus of end-user benefit and efficiency, the GAG note error trapping functionality will ensure that any manual data entry remains consistent and accurate throughout.
As the dedicated financial reporting and audit solution for academies, this new template will allow users to quickly, efficiently and accurately produce and audit clients’ accounts – in a sector where budgets, deadlines and quality control can simply not be compromised.
Founded in Toronto in 1988, CaseWare has become the leading global provider of accounting and auditing software used by domestic and global accounting firms, corporations and public sector and tax authorities.
For more information on CaseWare and CaseWare Academies go to: caseware.co.uk/academies
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NOTES TO EDITORS
With more than 20 years’ experience, CaseWare is a leading supplier of software solutions to accountants and auditors in both practice and commerce in more than 130 countries.
In the UK, it is relied on by four out of the top five accountancy practices and more than 40% of the top 100 firms. In addition, corporate clients across a range of sizes and sectors, depend on the CaseWare’s simple-to-use applications to drastically reduce inefficiencies, costs and time when preparing final accounts.
All of our products promote a completely paperless environment, allowing accountants and auditors worldwide to operate collaboratively, entirely on-screen.
CaseWare Accounts Production: a stand-alone or audit-integrated tool for the rapid production of UK GAAP financial statements across a wide range of entity types; featuring fully automated IXBRL tagging and HMRC recognised.
Specialist Templates: Groups, Charities, Pensions, Branch, Trust & Offshore Accounts, Academies Accounts & Audit.
CaseWare Paperless Audit: a paperless audit and compliance application covering both audit and audit-exempt (non-audit) engagements from planning to review.
IFRS Accounts: an IFRS template providing a full financial reporting environment to enable the creation of automated IFRS statements for even the most complex entity.
CaseWare Time for Practice Management: An easy to implement reporting facility featuring on-screen billing, statement printing, time recording and sales ledger functions.
CaseWare Connector: link CaseWare engagement file data to MS Excel workbooks and MS Word documents.
CaseWare Corporation Tax: integrated or standalone solution for the preparation of corporation tax returns and their online filing.