Fund reporting: balance, contributions and transfers determine year-end fund balance under annual statement form requirements. The Fund schedule in the balance sheet records the opening balance, additions by contributions, and the net income/(expenditure) transferred from the Income and Expenditure Account, and computes the balance as at the year-end for inclusion in the prescribed form of annual statement of accounts.
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Fund reporting: balance, contributions and transfers determine year-end fund balance under annual statement form requirements.
The Fund schedule in the balance sheet records the opening balance, additions by contributions, and the net income/(expenditure) transferred from the Income and Expenditure Account, and computes the balance as at the year-end for inclusion in the prescribed form of annual statement of accounts.
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