Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

CONSOLIDATED FUND

No description
by

hazirah wazir

on 16 October 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of CONSOLIDATED FUND

CHAPTER 5:
CONSOLIDATED
FUND

CONSOLIDATED
FUND

.
CONSOLIDATED
REVENUE ACCOUNT
.
Consolidated Trust account
.
INTRODUCTION
prepared by:
ZAHIR, AMMAR, TIQAH, TEHA, ZIRAH

It is a self contained entity with its own asset, revenue, expenditure or expense and fund balance.

objectives
to show the financial condition and its changes in the organization
CHARACTERISTICS
Independent accounting entity
Has its own set off account to complete double entry
Must be self balancing and autonomous

ASSET=FUND+LIABILITY
BASIS OF GOVT ACCOUNTING
use cash basis or modified cash basis

definition
DEFINITION
Govt revenues and monies received have to be accounted for.
Article 97(1) -Federal consolidated fund
Article 97(2)- State consolidated fund
Article 97(3)- Separate fund (zakat, fitrah, baitumal)
TYPES
Consolidated Revenue Account
Consolidated Trust Account
Consolidated Loan Account
.
.
Section 7(a)
Govt Accounting Standards No.3

Type of revenues
Tax Revenue
Non Tax Revenue
Other receipts
Revenue from Federal Teritorries
Use to pay
operating expenditure
Charge (Article 98)
Supply (Article 100 & 101)
.
definition
S7C FPA
All receipts and payments of both govt and public trust fund and monies received by the govt

Govt trust fund (sec10)
Development Fund
Housing Loan Fund
Misc Govt Trust Fund
Public Trust Fund
Special Trust Fund
General Trust Fund
Deposit
-Monies received for specific purposes under any laws or agreements and is refundable
CONSOLIDATED LOAN ACCOUNT
Definition
To keep all monies received by way of loan
Internal Borrowing
external borrowing
- Market Loans
Syndicate Loan
Bond Issues
Floating Rate Notes

- Project Loans
Multilateral Govt Sources
Bilateral Govt Sources
.
THANK YOU
Full transcript