The Policies and Procedures
of Mundarra Golf Club requires that accounts and statements be prepared using
structure and format that comply with accounting standards and their
organisational requirements. This includes:
· Financial
statements are to be prepared in accordance with Australian Accounting Standard
AASB101 Presentation of Financial Statements.
· The
Statement of Receipts and Payments is to be prepared to show receipts,
payments, any excess of receipts over payments for the year, and the Cash at
Bank balance at the start and end of the period.
·The
Statement of Comprehensive Income is to be presented as an Income and
Expenditure Statement which shows the Income and Expenditure of the
organisation and the resulting net surplus or deficit.
·
Internal
and external data must be checked and entered consistently and accurately into
the accounting system.
·
Accounts
for Bar Wages, Bar Trading, Members Subscriptions, and Insurance must be
reconstructed to finalise the figures for the Income and Expenditure Statement.
·
Statements
must be reviewed for errors, and amendments made before the final reports are
presented to the accountant and the treasurer of the committee (your
teacher/assessor) for verification and authorisation.
·
The
club is not registered for GST.
