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Specialist Accounting

Abacus

The Specialist Accounting team have four main areas of activity:

  • Research accounting
  • Technical accounting
  • Tax (including VAT)
  • Treasury

Research accounting:

  1. Receive transfer of pre-award data and communicate with PI on award
  2. Access and store contractual and post award documentation centrally (including PIs)
  3. Manage and monitor project income and expenditure through project reporting and provision of drill down data
  4. Review and approve research related SRFs and expenditure
  5. Prepare statements and claims detailing the required data
  6. Close project accounts
  7. Manage and respond to ad hoc queries, guidance and advice requests including dealing with any audits or similar compliance requirements

Technical accounting:

  • Ensure the University's statutory returns are completed in accordance with all relevant statutes and regulatory requirements
  • Produce returns in format for Companies House
  • Produce returns in format for the Charities Commission
  • Reports for regulatory compliance
  • Reporting to regulatory bodies
  • Oversight of international regulatory reporting
  • Consolidation workings, adjustments, movements & disclosures
  • Consolidated cash flow statement, income and expenditure, provisions, loans, interest payable analysis
  • Reconciliation of intercompany balances
  • Management of exceptional items
  • Produce month end accounts for the Trusts
  • Maintain the asset register for University's UK activities
  • Provide commentaries on results

Tax

  • Ensure the University returns, forms & submissions are completed in accordance with all relevant statutes & related regulatory requirements
  • Submit all relevant corporate tax returns, related statements & declarations for University UK subsidiaries & trusts
  • Submit P11D and PSA returns for University activities
  • Submit returns, statements & declarations for other activities as required for University UK subsidiaries & trusts
  • Ensure the University activities are compliant with all relevant statutes & related regulatory requirements
  • Prepare tax declarations for VAT, Corporation Tax and other HMRC returns
  • Manage tax compliance, risk management & cost mitigation
  • Providing guidance, advice, comment & reviews on all matters regarding Tax, University strategy, projects and activities
  • Review and advise on Employment Status questionnaires

Treasury:

  • Manage the University's overall cash and bank balances
  • Establish amount of cash available to invest
  • Invest spare funds appropriately to maximise the return
  • Ensure all balances and investments are recorded in the ledger
  • Monitor credit ratings of investment destinations to ensure that all University investments remain compliant with University policy
  • Manage the University's corporate loans, including interest and principal
  • Manage loan covenant requirements, ensure that the University does not breach the covenants
  • Maintain the corporate Treasury Policy and ensure all treasury management activities are compliant
  • Carry out scenario planning for loan and other financing alternatives
  • Calculate any exchange rate gain or loss arising on difference to contract rate, if applicable
  • Identify any surplus euros or other currencies which can be converted to GBP
  • Carry out period end close activities, including investment postings and accruals 
  • Review bank reconciliations and temporary petty cash floats
  • Carry out annual financial year-end confirmation of petty cash balances

 

 

 

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Carol Sherriff

Technical Accounting

 Treasury

VAT Liaison

 

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