The document provides details of transactions from January to May affecting various accounts of an organization. It records expenses related to seminars, supplies, equipment, income-generating projects, celebrations, donations, fees, fines, and interest income. It also lists the reports required to be submitted including a cash book, request forms, liquidation reports, and comparative financial statements. An appendix provides a chart of accounts detailing the organization's asset, liability, equity, income and expense accounts.
The document provides details of transactions from January to May affecting various accounts of an organization. It records expenses related to seminars, supplies, equipment, income-generating projects, celebrations, donations, fees, fines, and interest income. It also lists the reports required to be submitted including a cash book, request forms, liquidation reports, and comparative financial statements. An appendix provides a chart of accounts detailing the organization's asset, liability, equity, income and expense accounts.
The document provides details of transactions from January to May affecting various accounts of an organization. It records expenses related to seminars, supplies, equipment, income-generating projects, celebrations, donations, fees, fines, and interest income. It also lists the reports required to be submitted including a cash book, request forms, liquidation reports, and comparative financial statements. An appendix provides a chart of accounts detailing the organization's asset, liability, equity, income and expense accounts.
The document provides details of transactions from January to May affecting various accounts of an organization. It records expenses related to seminars, supplies, equipment, income-generating projects, celebrations, donations, fees, fines, and interest income. It also lists the reports required to be submitted including a cash book, request forms, liquidation reports, and comparative financial statements. An appendix provides a chart of accounts detailing the organization's asset, liability, equity, income and expense accounts.
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ACCOUNTABLE EVENTS
Date Transactions Accounts Affected Attachment/s
01/19 The organization conducted a Cost of Request Form *02-001 seminar, incurring a total cost of Services Liquidation Report P5,500.00. Cash Activity Report
01/22 The business manager Office Supplies Request Form *02-002
02/01 The business manager Equipment Request Form
purchased computer equipment Cash Liquidation Report for their project, totaling Receiving Report P25,000.00.
02/28 The organization conducted an Expenditure on Request Form for Start-
Income-Generating Project, IGPs up Cost requested a start-up capital Cash Liquidation Report amounting to P10,000.00. Activity Report (details regarding Revenue and The organization maximized the Cash Expenses *supported by capital and successfully Revenue from O.R.* should be generated a total revenue of IGPs included) P10,900.00.
03/10 The organization celebrated its Cost of Request Form
day, incurring a total expense of Services Liquidation Report P7,000.00. Cash Activity Report
04/02 The organization received a Cash Acknowledgement
cash prize in intramurals Other Income Receipt amounting to P10,000.00.
04/05 The organization conducted a Cost of Request Form
thanksgiving party, incurring a Services Liquidation Report total expense of P6,500.00. Cash Activity Report
05/16 The organization donated CSR Expense Request Form
05/17 The organization contributed CSR Expense Request Form
P1,000.00 to the extension Cash Liquidation Report program conducted by the Activity Report department.
05/20 The organization received Cash Acknowledgement
donations from alumni Income from Receipt amounting to P7,000.00. Donations
05/21 The officers on duty spent Representation Request Form
P330.00 on their meals and Expense Liquidation Report snacks. Cash
05/30 The registrar's report indicates Cash List of
that there are 121 students Accounts Members/Enrollees enrolled in the BS Accountancy Receivable Acknowledgement program. However, the Membership Receipt treasurer only collected Fee P100.00 in membership/departmental fees from 115 students.
05/30 The secretary's report shows a Cash List of Fines and
total of P12,000.00 in penalties Accounts Penalties and fines imposed on Receivable Acknowledgement students/members. However, Income from Receipts the treasurer only collected Fines and P8,500.00. Penalties
05/30 The organization's cash in the Cash Photocopy of Passbook
bank earned an interest Interest amounting to P120.00. Income from Deposits
*Request Form should be pre-numbered.
LIST OF REPORTS TO BE SUBMITTED 1. Cash Book (Running Balance of Cash) - *a photocopy of your cash book balance should be submitted on a certain cut-off date for the signing of clearance. 2. Summary of Request Form used accompanied by Liquidation Report and/or Activity Report 3. Summary Report on Acknowledgment Receipt used 4. Comparative Financial Statements (Last Semester and This Semester) 1.1. Statement of Financial Position 1.2. Income Statement 1.3. Statement of Cashflows CHART OF ACCOUNTS
Account Titles Description
ASSETS Cash This refers to the physical currency (coins and banknotes) and balances in bank accounts. Accounts Receivable This refers to outstanding membership fees, fines, and penalties from members that have not yet been collected. Inventory Products that remained unsold during the Income- Generating Project (IGP). Furniture and Fixture Furniture refers to items like desks, chairs, and cabinets, while fixtures include items like lighting fixtures or display racks that are permanently attached to a building. Equipment This can include computers, camera, sound system, printer and other tools necessary for business operations. Other Assets This category typically includes any other assets not classified under the above categories. LIABILITY Accounts Payable Represents the organization's liabilities to external parties. EQUITY ‘Organization’s Name’, Capital The total assets of the organization, minus any liabilities, represent the organization's net assets or equity. INCOME Membership Fee This refers to the fee paid by individuals or entities to become members of an organization or club. Income from Fines and Penalties This represents revenue generated by imposing fines or penalties on members for violations of rules, policies, or agreements. Revenue from IGPs This refers to the earnings generated by projects or activities designed to generate income for the organization. Income from Donations This represents funds received from individuals, businesses, or other organizations as gifts or contributions without an expectation of receiving anything in return. Interest Income from Deposits This refers to the interest earned on cash deposits. Other Income This category typically includes any additional sources of revenue that do not fall into the above categories. EXPENSES Cost of Services Cost of services refers to the expenses incurred directly in activities such as trainings and seminars conducted for the benefit of the students. Office Supplies Expense This includes items such as stationery, paper, ink cartridges, pens, folders, and other office consumables. Office supplies expenses are necessary for maintaining office functionality and supporting administrative tasks. CSR (Corporate Social CSR expense refers to expenditures made by the Responsibility) Expense organization towards initiatives and activities aimed at making a positive social or environmental impact. This may include donations to charitable causes, community development projects, environmental sustainability efforts, and other socially responsible initiatives. Representation Expense Representation expense encompasses costs associated with representing the organization in various activities, events, or meetings. This may include expenses related to business travel, meals, entertainment, conferences, seminars, and other events where representatives of the organization are present to promote its interests or engage with stakeholders. Expenditures on IGPs Expenditures on IGPs represent the costs incurred in planning, organizing, and executing income-generating projects or activities. Other Expense Other expense typically encompasses any additional expenses that do not fall into the above categories.
