Finance
SORP
Formal definition
In UK charity accounting, SORP means the Statement of Recommended Practice that explains how charities must apply accounting standards when preparing annual reports and accounts.
What this actually means for you
Your year-end accounts and trustee report need to follow SORP formats and disclosure rules, not just your internal spreadsheet structure.
Example: When preparing year-end accounts, your finance lead maps income and expenditure to SORP categories and updates trustee-report disclosures before sign-off.
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