Charitable Associations Annual Report – Financial Accounting Requirements

The Annual Report, as at 31 August 2015, must include the following details in the financial accounts:

              Income Statement

Income/receipts

  1. Government grants
  2. Donations and bequests
  3. Other income/receipts
  4. Total income/receipts (a+b+c)

Expenses/Payments

  1. Employee expenses/payments
  2. Grants and donations made by the entity in Vanuatu as per the entity’s objectives
  3. Grants and donations made by the entity outside of Vanuatu as per the entity’s objectives
  4. Other expenses/payments
  5. Total expenses/payments (e+f+g+h)
  6. Net surplus/deficit (d-i)

 

Balance Sheet

  1. Total assets
  2. Total liabilities
  3. Net assets/liabilities (k-l)