The finance record is constructed each year to the Statement of Recommended Practice (SORP). A fundamental review of the Finance record was completed in 2013/14, with the resulting changes implemented in a new specification for the 2015/16 collection, taking into consideration the changes from the implementation of Financial Reporting Standards (FRS) 102. Financial Reporting Standards (FRS) 102 is the new financial reporting framework for higher and further education providers for reporting periods starting on or after 1 January 2015. These new standards have introduced significant changes in the way financial performance is reported, which present difficulties in comparing 2015/16 results with historical trends, and in comparing results between providers. Some transitional changes reflected in the restated 2014/15 results mean this is also an atypical year. We would therefore advise caution when undertaking time series and comparative analysis.
Free online data tables
Our downloadable tables provide further information about the income and expenditure of higher education providers.
- Income and expenditure of higher education providers in 2015/16
- Contents - Higher Education Statistics for the UK 2015/16
- Other sources of HE information
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