News alert / DHSC Group accounting manual 2023/24 update

The Group accounting manual 2023/24 has been updated. The key changes are:

• the disclosures that NHS bodies are required to make to meet the first phase of the implementation of the Task Force on Climate-related Financial Disclosures (TCFD) in the public sector
• confirmation of the public dividend capital (PDC) dividend calculation
• conformation that NHS bodies must disclose the total contractual commitments under private finance initiative contracts measured at current prices at the reporting date
• reinstatement of guidance relating to partially completed patient spells
• confirmation that the 2023/24 elements of the pay settlement offer for consultants should be recognised as accrued expenses rather than a provision in the 2023/24 financial statements. The accrual may need to be adjusted if the expected value changes during negotiations before the accounts are finalised as this will be an adjusting post balance sheet event.