Fund accounting requirements mandate reporting opening balance, contributions, transfers, and closing balance in annual accounts. Fund disclosure requires reporting the opening balance, contributions, net income/(expenditure) transferred from the Income and Expenditure Account, and ... Summary
Fund accounting requirements mandate reporting opening balance, contributions, transfers, and closing balance in annual accounts.
Fund disclosure requires reporting the opening balance, contributions, net income/(expenditure) transferred from the Income and Expenditure Account, and the closing balance for current and previous years in the prescribed tabular form; this schedule was inserted by notification as the prescribed form for annual statement of accounts under the rules.
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