Tag Archives: #FinancialStewardship

Prepares financial statement: Who prepares the financial statements ?

Prepares financial statement The financial statements are typically prepared by the company’s accounting and finance department or by professional accountants and auditors. These individuals have the knowledge and expertise to accurately compile and analyze financial data in accordance with accounting principles and standards. It is mandatory to Prepares financial statement. In smaller businesses, the financial… Read More »

Fund Utilization Certificate in the Reference of CSR?

Fund Utilization Certificates Meaning of Fund Utilization Certificates: A Fund Utilization Certificate is a document that verifies the appropriate utilization of funds allocated for Corporate Social Responsibility (CSR) activities. In the context of CSR, companies required to allocate a certain portion of their profits towards social and environmental initiatives. The Fund Utilization Certificate serves… Read More »

Fund utilization certificate: How to Prepare Fund Utilization Certificate ?

Fund utilization certificate To prepare a fund utilization certificate, follow these steps: 1.Gather Information: Collect all relevant details related to the funds that have been allocated and utilized. This includes information about the funding source, project or program, budget, and expenditure records. 2.Understand Requirements: Familiarize yourself with the specific requirements or guidelines set by the… Read More »

LLP accounts signatory: Who signs LLP accounts ?

LLP Accounts Signatory LLP Accounts Signatory: In the framework of a Limited Liability Partnership (LLP), the designated partners assume the crucial responsibility of signing and certifying the accounts of the LLP. This underscores their essential involvement in financial affairs, underscoring the significance they hold in maintaining financial transparency and accountability. Here’s an explanation of… Read More »

What is fund utilization?

Importance of fund Utilization Importance of fund utilization, Fund utilization refers to the process of allocating, spending, and managing funds for specific purposes or activities within an organization, project, or program. It involves the effective and efficient utilization of financial resources to achieve intended objectives or outcomes. Fund utilization involves several key steps: 1.Allocation: Funds… Read More »

How to prepare financials of a company?

Process of completing financial statements

Preparing the financials of a company Preparing the financials of a company involves several steps. Here is a general outline of the process: 1.Collect and Organize Financial Data: Gather all relevant financial information, such as transaction records, bank statements, invoices, receipts, and other supporting documents. Ensure that the data is accurate, complete, and organized… Read More »

Fund Utilization Certificate Format?

Fund Utilization Certificate Format [Fund Utilization Certificate] Project: [Project Name] Funding Source: [Funding Source Name] Utilization Period: [Start Date] – [End Date] I, [Your Name], as the authorized representative of [Organization Name], hereby certify the utilization of funds received from [Funding Source Name] for the aforementioned project during the specified utilization period. The… Read More »

When assets are Recorded at Original value?

Recording Assets at Original Value In accounting, understanding how and when to record assets is crucial for accurate financial reporting. One important concept is the recording of assets at their original value. What Is Original Value? Original value refers to the initial cost of acquiring an asset. This includes the purchase price as well… Read More »

Fund Utilization Certificates Formate

Fund Utilization Certificate Formate Here’s an example of a fund utilization certificate formate: [Fund Utilization Certificate] Project: [Project Name] Funding Source: [Funding Source Name] Utilization Period: [Start Date] – [End Date] I, [Your Name], as the authorized representative of [Organization Name], hereby certify the utilization of funds received from [Funding Source Name] for… Read More »

What is fund utilization report?

Fund Utilization Report A fund utilization report is a document that provides detailed information about the utilization of funds within a specific project, program, or organization. It outlines how the funds have been allocated, spent, and utilized for various purposes or activities as per the approved budget or funding agreement. The report serves as… Read More »