CIPFA General News

CIPFA launch new cash-flow wizard

A new cash flow development system has been launched today. The Cash Flow Statement Toolkit was devised by the Chartered Institute of Public Finance and Accountancy (CIPFA). The yearly cash-flow statement is invariably a big concern to an accountant and the Toolkit, accompanied by detailed guidance notes, is designed to work automatically to achieve a Financial Reporting Standard (FRS) 1 and a Statement of Recommended Practice (SORP) compliant cash-flow statement.

The Toolkit, which consists of a number of Excel worksheets that are completed by the user, will instantly provide the year-end cash flow figures. The system has been successfully tested with actual figures from the financial statements, and early indications suggest that that it will save time, effort and worry. CIPFA also recently provided two half day training sessions on its implementation and application.

Discussing the Cash Flow Statement Tool-kit, Alistair Steenson, Principal Consultant at CIPFA, said:
“Given the increasing pressure on accounting practitioners to close their accounts and report results earlier, the Toolkit has proved to be an invaluable time saver with practitioners reporting that a process that used to take a number of days to complete can now be completed in half a day!”