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What Is Accounting Expenditure Report

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What is Accounting expenditure report?
Statement of expenditure report
Accounting expenditure report Introduction
New accounting systems of government has  one of the best devise or continues procedure of reporting expenditure yesteryear operating degree officeholder to concerned key degree officer. It every bit good helps inwards training of time to come budgets. The next disputation in addition to reports are discussed inwards this chapter every bit per the requirement of government.
• Statement of expenses
• Monthly advance expenditure reports (AGF N0.14)
one of the best devise or continues procedure of reporting expenditure yesteryear operating degree of What is Accounting expenditure report

• Bank reconciliation disputation (AGF No. 15)
Meaning of disputation of expenditure
Statement of expenditure is every bit good called monthly expenditure report, which is prepared to written report the actual expenditure of every operating degree component subdivision nether novel accounting organisation of government. It should endure prepared in addition to submitted to key degree component subdivision for corresponding at the goal of every calendar month every bit monthly report. It has been maintained inwards prescribed format nether AGF N0. 13.

 Statement of expenditure should orbit data non entirely nigh the expenditure incurred yesteryear an operating degree component subdivision on dissimilar budget heads, but every bit good discloses amount of budget release, annul appropriation of budget in addition to the residue of budget receivable from key office. It every bit good reflects the summary of cash in addition to depository financial establishment balances, unlearned amount of advance in addition to loan etc till the goal of each month.
Importance of disputation of expenditure
Statement of expenditure is i of the most importance statements which is prepared of operating degree officers to exhibit their expenditure at the goal of every month. The importance of disputation of expenditure are every bit follows:
• To evaluate the progress of operating level.
• To render accounting data to the key degree component subdivision for maintaining the command over budget.
• To endure prepared amongst the assist of the data obtained from the budget sheet, depository financial establishment cash book, advance degree in addition to lilliputian cash majority maintained yesteryear operating degree officers.
• To render dissimilar types of data to the component subdivision of treasury in addition to comptroller for making conclusion regarding budget liberate in addition to revolving fund.
• To assist the key degree component subdivision tin cause got of import financial decision.
• To render data for making time to come budget for operating degree officers.
Statement of expenditure is f prepared nether the format every bit designed yesteryear AGF No. 13.the specimen of disputation of expenditure is every bit follows:
one of the best devise or continues procedure of reporting expenditure yesteryear operating degree of What is Accounting expenditure report
Parts of disputation of expenditure
The disputation of expenditure contains the next 2 parts:
• Part 1: showing the seat of budget.
• Part 2: showing the seat of fund.
Part 1: showing the seat of budget
one of the best devise or continues procedure of reporting expenditure yesteryear operating degree of What is Accounting expenditure report
Part 2: showing the seat of fund
It is the minute component subdivision of disputation of expenditure, which includes the cash in addition to depository financial establishment balance, full amount of budget release, full expenditure unclear advance in addition to seat of loan. It shows the condition of fund every bit follows:
1. Total budget liberate received upwards to electrical flow month: this is the amount which is calculated amongst the budget received upwards to electrical flow calendar month the from key degree officer. It tin endure calculated yesteryear using next formula.
2. Actual expenditure: this is the amount which is calculated amongst the amount of expenditure subsequently deducting unlearned advance.
3. Bank balance: depository financial establishment residue is that amount which is shown the depository financial establishment residue of depository financial establishment at the goal of the month.  It is every bit good calculated the next formula.
4. Cash balance: it is the amount, which is shows the amount of cash residue of cash at the ending appointment of statement. It is every bit good calculated the next formula
Monthly advance expenditure written report (AGF N0.14)
Monthly advance expenditure written report is i of them importance written report to endure prepared yesteryear operating degree officeholder for the submissions to the key degree officeholder along amongst expenditure report. It is a disputation of recording those advance expenditure, which cause got non been cleared. It is maintained to command over advance expenditure. The written report should endure prepared on the format of AGF No. 14. The format contains appointment of giving advance advert of the persons or political party receiving the advance the reasons for non-clearance of advance etc. the specimen of monthly advance expenditure written report is every bit follows.
Bank reconciliation disputation (AGF N0. 15)
New accounting organisation of NG has given much emphasis inwards banking transaction of regime activities. All the transactions are operated through bank, in addition to then every officeholder should endure opened upwards the depository financial establishment concern human relationship for operating its financial transactions. The regime officeholder needs adept lilliputian cash expenses. Banks maintained such in addition to brand all the payment through depository financial establishment check depository financial establishment statements, on the other bank, the same transaction are recorded inwards depository financial establishment cash majority of sometimes. The residue of overstep majority in addition to the residue amount shown yesteryear these 2 books must endure equal but diverse reasons. To expose such reasons of differences in addition to to reconcile the residue of both yesteryear the operating degree officeholder in addition to the format of AGF No.15 in addition to this disputation should endure submitted to key degree officeholder at the goal of every month.
Some reasons of disagreement betwixt 2 balances may endure every bit follows:
• Cheque paid/ deposited into depository financial establishment but non credited for payment.
• Cheque issued/ drawn but non nevertheless acquaint for payment.
• A client straight deposited into bank.
• Direct payment made yesteryear depository financial establishment standing order.
• Interest allowed yesteryear bank.
• Interest charges/ depository financial establishment charges charges yesteryear bank.


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