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STANDARD FINANCIAL STATEMENT Mabs Form

STANDARD FINANCIAL STATEMENT Mabs Form

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so the currently several financial statements in operation across the debt advice sector most widely-known would be the comment financial statement what the standard financial statement will bring will be a standardized approach to how you record a client's income and expenditure so at the moment there's no sector wide view of what it's essential expenditure what are those categories of essential expenditure and there's no set to wide view of what are the more discretionary more as we will call flexible areas of expenditure what we've seen over the years is quite a diversity of approaches to producing financial statements and so in the standard financial statement what we see is an opportunity to bring that together effectively to reset some of the principles that we had in CFS into a new stem that so that all agencies can sign them for so a standard statement to go live on the 1st of March and this will be followed by around a 12-month transition period where all the advise agencies

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