SGDA-IPSAS Based Financial Statements-2020

Save Generation Development Association (SGDA)
REPORTS AND ANNUAL FINANCIAL STATEMENTS

As at 31 December 2020
CONTENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Key Organization Information and Management 3
Report of the Management 4
Statement of Managements' responsibilities 5
Independent auditor's report 6-7
Statement of financial position 8
Statement of financial performance 9
Statement of changes in net assets/equity 10
Statement of cash flows 11
Notes to the financial statements 12-
2
KEY ORGANIZATION INFORMATION AND MANAGEMENT
Organization TIN number

0007300462
Executive Management (as of 31 December 2019)

Name Position Appointment Date
1 Bekelech Demissie Excutive Driector 2008
2 Gada waqayo Programme officer 2016
3 Edosa Hanbisa Human Resource 2017
4 Desta Teressa Program Cordinator 2014
5 Aynalem Getachew Project Coordinator 2018
6 Dinqinesh Reta Project Coordinator 2018
Independent auditor
Name: Solomon Demena & Co Certified Audit Firm

Address: Addis Ababa, Megenagna,Maraton motors Bldg
P.O.BOX: 28622AA
Office: +251-011-6676658
Fax: +251-011-6676681
Email: tomime76@gmail.com

AIB bulding 4th floor
Mob: +251-911-491548
Email:bekelech11@yahoo.com
P.O. Box :- 17970 AA
Debrezeit, Bishoftu
Ethiopia
Principal bankers
Commercial Bank of Ethiopia

Awash International Bank
Consulting IPSAS
NBN Consulting
Africa Avenue, OMEDAD Building, 3rd Floor.
www.info.nbn-et.com
Addis Ababa
3
Ethiopia
4
REPORT OF THE MANAGEMENT
The Management submit their report together with the financial statements for the year ended
December 31, 2020 which show the state of the organization’s affairs.
Background information
Save Generation Development Association (SGDA) has been registered and licensed by Federal
Democratic Republic of Ethiopia Charites and Societies Agency as foreign charitable organization
in accordance with Proclamation No 621/2009 with certificate No 0317 and the license will be
renewed every three years.
Principal Activities
Save Generation Development Association (SGDA) is an indigenous non-governmental and non-

profitable association. having a mission of Serving the poor communities of Ethiopia through
integrated developmental work, especially Women ,people living with HIV and orphan children,
motivating them to use their God given potential to work and change themselves through capacity
building and economic empowerment activities and working within the communities on
environmental protection, upgrading the income of rural farmers through irrigation farms, helping
the poor in all part of Ethiopia to access pure drinking water and construct health center
Results
The results of the organization for the year ended December 31, 2020 are set out on page 9.
Management
The management who serve during the year are set out on 3.
Executive Director
Addis Ababa, Ethiopia
4
STATEMENT OF MANAGEMENT RESPONSIBILITIES
The Financial Reporting Proclamation No. 847/2014 requires the entity to prepare its financial statements
in accordance with the International Public Sector Accounting Standards (IPSAS).
The Management is required to prepare financial statements in respect of that entity, which give a true and
fair view of the state of affairs of the entity at the end of the financial year/period and the operating results
of the entity for that year/period. The Management are also required to ensure that the entity keeps proper
accounting records which disclose with reasonable accuracy the financial position of the entity. The
Management are also responsible for safeguarding the assets of the entity.
The Management is responsible for the preparation and presentation of the entity’s financial statements,
which give a true and fair view of the state of affairs of the entity for and as at the end of the financial year
(period) ended on December 31, 2020.
The Management accept responsibility for the entity’s financial statements, which have been prepared
using appropriate accounting policies supported by reasonable and prudent judgements and estimates, in
conformity with International Public Sector Accounting Standards (IPSAS). The Management are of the
opinion that the entity’s financial statements give a true and fair view of the state of entity’s transactions
during the financial year ended December 31, 2020, and of the entity’s financial position as at that date.
The Management further confirm the completeness of the accounting records maintained for the entity,
which have been relied upon in the preparation of the entity’s financial statements as well as the adequacy
of the systems of internal financial control.
Nothing has come to the attention of the Management to indicate that the entity will not remain a going
concern for at least the next twelve months from the date of this statement.
Approval of the financial statements
The entity’s financial statements were approved by the Management on _________________ 2021 and
signed on its behalf by:
Executive Director
5
AS AT 31 DECEMBER 2019
31 Dec 2019 1 Jan 2019

Notes ETB ETB
ASSETS
Current assets
Cash and bank balance 6 729,295.37 A 280,143.14 A

Prepayments and Deposits 3,794.15 G - G
Total Current Assets 733,089.52 280,143.14
Non-Current assets
Property, Plant and Equipment Err:509 256,837.89 Q 296,872.89 Q
Total Non-current Assets 256,837.89 296,872.89
TOTAL ASSETS 989,927.41 577,016.03
LIABILITIES AND EQUITY
Liabilities
Account Payable 8 51,387.84 T 51,388.00 T

Government Payable 9 29,616.44 W 21,376.96 W
Other current liabilities - Z 1,002.00 Z
Total current liabilities 81,004.28 73,766.96
Non-current liability
Accrued staff benefits 10 96,559.32 AD 80,605.59 AD
Total non-current liability 96,559.32 80,605.59
Total liability 177,563.60 154,372.55
EQUITY
Net assets /Fund balance 596,152.51 AG 206,432.18 AG

Accumulated Surplus or Deficit 216,211.31 AH 216,211.31 AH
Total Equity 812,363.81 422,643.49
Total equity and liabilities 989,927.41 577,016.03
9
(In ETB)
Notes 31 Dec 2020 31 Dec 2019

ASSETS
Current assets
Cash and bank balance 5 2,775,740 729,295

Staff Receivable 6 314 -
Prepayments and Deposits 7 3,794 3,794
Total Current Assets 2,779,848 733,090
Non-Current assets
Property, Plant and Equipment 8 216,716 256,838
Total Non-current Assets 216,716 256,838
TOTAL ASSETS 2,996,564 989,927
LIABILITIES AND EQUITY

Liabilities
Accounts Payable 9 51,388 51,388
Government Payable 10 68,653 29,616
Other current liabilities 12 58,346 -
Total current liabilities 178,387 81,004
Non-current liability
Accrued staff benefits 11 168,069 96,559
Total non-current liability 168,069 96,559
Total liability 346,456 177,564
EQUITY
Fund balance 826,654 596,153
Accumulated Surplus or Deficit 1,823,454 216,211
Total Equity 2,650,108 812,364
Total equity and liabilities 2,996,564 989,927
The notes on pages 10 to 20 are an integral part of these financial statements.
The financial statements on pages 6 to 20 were approved and authorized for issue by the Organization
Management on 20-January-2021 and were signed on its behalf by:
6
(In ETB)
Executive Director
7
Statement of Financial Performance
For the year ended 31 December 2020
(In ETB)
Notes 31 December 2020 31 December 2019
Revenue from non-exchange transactions
14
Voluntary Contributions/Donations 8,783,840 4,944,215
Total revenue
8,783,840 4,944,215
Expenses 15
Program expenses 85%

5,955,681 3,884,855
Administative expenses
15% 1,004,705 894,067
Total expenses 100%

6,960,385 4,778,923
Surplus for the year

1,823,454 165,293
The notes on pages 10 to 20 are an integral part of

these financial statements.
7
Statement of Financial Performance
31 December 2019
Notes ETB
Voluntary Contributions 14 4,944,215
Voluntary Contributions -in-kind -
Total revenue 4,944,215
Expenses 15
Program expenses
Wages, salaries and employee benefits-Program staff 446,191
Supplimentry food 333,245
Uniform, casual cloth & school materials 271,688
Monitoring & evaluation 46,179
Medical expense 4,864
Bati Bora water supply project work Expense 1,206,704
Agricultural kits & seed purchse cost 135,174
Pilot testing & identifying smart agriculure activities 30,100
Community support 201,669
Distribution expense 149,173
Local value chain expense 111,428
Documentary Film Production 12,000
Project Lunching & project preparation expense 28,088
Professional fee 80,000
Travel, accomodation & perdium - program staff 310,821
Fuel & Lubricants 46,851
Vehicle spare part & maintenance 61,652
Office supplies, printing & stationary 12,520
Utility & tele Bill 17,354
Project Office rent 30,000
Training, workshop, seminar 337,857
Miscellaneous expense 11,298
Total program expenses 3,884,855
Administative expenses
Wages, salaries and employee benefits-Administrative staff 638,925

Severance expese 15,954
Travel, accommodation & perdium 44,421
Vehicle sparepart & maintenance 30,047
Head Office rent 31,839
Fuel & lubricants 19,544
Office supplies, printing & stationary 19,852
Utility & tele Bill 17,568
Professional fee 16,150
vehicle & Insurance inspection 9,972
Membership expense 9,000
Depreciation expense 40,035
Finance cost 760
Total administative expenses 894,067
Total expenses 4,778,923
Surplus for the year 165,293

STATEMENT OF CHANGES IN NET ASSETS/EQUITY

(In ETB)
Accumulated
Fund Balance Total
surplus
Balance as at 31 December 2019 596,153 216,211 812,364
Transfer to Fund Balance 216,211 (216,211)
Surplus for the period 1,823,454 1,823,454
Increase in Fund Balance 14,290 - 14,290
Balance as at 31 December 2020 826,654 1,823,454 2,650,108
The notes on pages 10 to 20 are an integral part of these

financial statements.
8
MENNONITE ECONOMIC DEVELOPMENT ASSOCIATES (MEDA)
STATEMENT OF CASH FLOW
(In ETB)
Notes 31-December-20 31-December-19

Cash flows from operating activities
Surplus/Deficit For the year 1,823,454 165,293
Adjustments to reconcile deficit for the year to net cash flows:
Depreciation and amortization 8 40,122 40,035
Changes in assets
Increase/Decrease in Prepayments and Deposits 7 - (3,794)
Increase in Staff Receivable 6 (314)
Changes in liabilities, net assets/equity
Decrease in Accounts Payable 9 - (0)
Increase in Government Payable 10 39,037 8,239
Increase in Accrued staff benefits 11 71,510 15,954
Decrease in Other current liabilities 12 58,346 (1,002)
Net cash flows (used in) operating activities 2,032,155 224,725

Cash flows from investing activities
Purchases of property, plant and equipment - -
Disposals of property, plant and equipment - -
Purchases of intangible assets - -
Net cash flows from investing activities - -
Cash flows from financing activities
Finance lease repayment - -
Net cash flows from financing activities - -

Other movements in net assets 14,290 224,427
Net decrease in cash and cash equivalents 2,046,445 449,152
Effect of exchange rate changes on cash and cash equivalents - -
Cash and cash equivalents — beginning of year 729,295 280,143
Cash and cash equivalents— end of year 5 2,775,740 729,295
9
NOTES TO THE FINANCIAL STATEMENTS
Note 1 Reporting Entity
Save Generation Development Association is an indigenous non-governmental and non-profitable

association that started to work non- formally in 1999 by its founder, Mrs. Bekelech Demessie Rorissa, to
support the poor communities focusing mainly on women, children, orphans, and people with HIV/AIDS.
Ultimately, SGDA grows to become a dominant force in its domain helping the poor by transforming
itself, legally licensed at the Ministry of Justice in December 3, 2008.and again re-registered by the
Charity Society Agency up on the new legislation by the government of Ethiopia since Nov 2009. During
1999-2008 before the official registration of Save Generation, Ms Bekelech Demessie Rorrisa who was
born in rural area of Oromia regional state, Adama District, Didimtu, had launched her mission to support
poor women on her birthplace on her personal monthly salary.
SGDA is a not for profit organization registered & accorded legal personality with the FDRE Agency for
Civil Society Organization (CSO) under registry No. 0317 on 29 08 2019 as a local organization in
accordance with Civil Society Organizations (CSO) proclamation No. 1113/2019.
Note 2 Statement of compliance with the International Public Sector Accounting Standards
The financial statements of SGDA have been prepared in accordance with the International Public Sector
Accounting Standards (IPSAS) and applicable Ethiopian Government (ACSO) regulations.
New standards & Interpretation not yet adopted
i) IPSAS 41, Financial Instruments
IPSAS 41, Financial Instruments, establishes new requirements for classifying, recognizing and
measuring financial instruments to replace those in IPSAS 29, Financial Instruments: Recognition and
Measurement. The IPSASB approved IPSAS 41, Financil Instruments, in June 2018 and issued in August
2018.
IPSAS 41 'Financial Instruments', The Standard establishes new requirements for classifying, recognizing
and measuring financial instruments to replace those in IPSAS 29, Financial Instruments: Recognition and
Measurement.
IPSAS 41 provides users of financial statements with more useful information than IPSAS 29, by:
Applying a single classification and measurement model for financial assets that considers the
characterstics of the asset's cash flows and the objective for which the asset is held:
Applying a single forward-looking expected credit loss model that is applicable to all financial
instruments subject to impairement testing; and
Applying an improved hedge accounting model that broadens the hedging arrangements in scope of the
guidance. The model develops a strong link between an entity's risk management strategies and the
accounting treatment for instruments held as part of the risk management strategy.
The standard is effective 1 January 2023. Although early adoption is permitted, the Entity did not apply
this standard in 2019.
ii) IPSAS 42, Social Benefits
10
IPSAS 42 'Social Benefits', seeks to improve the relevance, faithful representativeness and comparability
of the information that a reporting entity provides in its financial statements about social benefits.
Note 3 Basis of preparation and authorization for issue
Basis of preparation
These financial statements are prepared on an accrual basis of accounting in accordance with IPSAS.
The financial statements are prepared using the historic cost convention. The financial statements are
prepared for the year from 1 January to 31 December 2019.
The financial statement consists of:
A Statement of Financial Position

This provide information about the accumulated surplus/deficit at the reporting year-end date – the
difference between SGDA’s total assets and liabilities. It gives information about the extent to which
resources are available to support future operations and the unfunded liabilities.
A Statement of Financial Performance

This measures the net surplus or deficit of the reporting year – the difference between revenues and
expenses. It provides information about the Organization’s cost of programme delivery and the amounts
and resources of revenue contributions from different sources.
A Statement of Changes in Net Assets/Equity

This highlights the sources of changes in the overall financial position.
A Cash Flow Statement

This provides information about SGDA’s liquidity and solvency including how the organization raised
and used cash during the period . It measures the difference between the actual cash coming in and cash
going out.
Notes to the Financial Statements
These assist in understanding the financial statements. Notes comprise of a summary of significant
accounting policies and other explanatory information. It provides additional information on the financial
statements as required under IPSAS.
3.1 Change in accounting policy and estimate & critical judgment

SGDA recognizes the effect of change in accounting policy and change in accounting estimates
retrospectively at the date of adoption and after adoption of IPSAS, change in accounting estimates
applied prospectively and change in accounting policy applied retrospectvely. The preparation of financial
statements in accordance with IPSAS requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities at the date of the financial statements and the reported
amounts of revenue and expenses for the year. Accruals, property, plant and equipment and employee-
benefit liabilities are the most significant items where estimates are used. Actual results could differ from
these estimates. Changes in estimates are reflected in the year in which they become known.
3.2 Going concern

These financial statements were prepared on the assumption that the Organization is a going concern and
will continue in operation and will meet its mandate for the foreseeable future (IPSAS 1). The
Management of SGDA have not communicated any intention to terminate the Organization or to cease its
operations.
11
IPSAS applicable to SGDA Ethiopia are:
IPSAS 1: Presentation of Financial Statements

IPSAS 2: Cash Flow Statement
IPSAS 3: Accounting Plocies, Change in Accounting Estimates and Error
IPSAS 4: The effect of changes in Foreign Exchange Rate
IPSAS 12:Inventories
IPSAS 13:Leases
IPSAS 14:Events after the reporting date
IPSAS 16:Property, Plant and Equipment
IPSAS 19:Provisions, Contingent Assets and Contingent Liabilities
IPSAS 20:Related Party Disclosure
IPSAS 21-Impairment of Non-Cash Generating Assets
IPSAS 23:Revenue from Non-Exchange Transactions
IPSAS 28,29 & 30:Financial Instruments
IPSAS 31:Intangible Assets
IPSAS 39:Employee Benefits
3.3 Authorization for issue

These financial statements are certified and approved by the Management of SGDA. This issuance
approval is dated ________. No other authority has the power to amend the Financial Statements after
issuance.
3.4 Financial risk management
SGDA activities exposed it to a variety of financial risks, mainly, liquidity risk, market risk, foreign
exchange risk and credit risk.
i) Liquidity Risk
Liquidity risk is the risk of SGDA not being able to meet its obligations as they fall due. SGDA's
approach to managing liquidity risk is to ensure that sufficient cash is available to meet its liabilities when
due, without incurring unacceptable losses of risking damage to SGDA reputation.
SGDA ensures that it has sufficient cash on demand to meet expected operating expenses through the
maintainance of liquid cash and deposits that are available on demand.
As at the year–end, SGDA’s cash and current asset amount to ETB 2.8 million which is substantially
more than the current liabilities equaling ETB 178,387.19 Therefore, the Organization is not exposed to a
significant liquidity risk.
ii) Market Risk
Foreign exchange currency risk
The Organization receives contributions in currencies other than the Ethiopian Birr and it is exposed to
foreign exchange currency risk arising from fluctuations in currency exchange rates. Translation into
Ethiopian Birr of transactions expressed in other currencies is done at the prevailing rates of Exchange at
the date of transaction.
12
The Organization receives contributions in currencies other than the Ethiopian Birr and it is exposed to
foreign exchange currency risk arising from fluctuations in currency exchange rates. Translation into
Ethiopian Birr of transactions expressed in other currencies is done at the prevailing rates of Exchange at
the date of transaction.
Price Risk
The Organization does not hold any financial instruments subject to price risk.
iii) Cash flow, fair value and interest rate risk
The Organization does not hold any bank loans and loans from related parties subject to cash flow, fair
value and interest rate risk.
iv) Credit risk
The organization has receivable that are due to be provided by contributors and donors. Credit risk is the
risk of financial loss to SGDA if donors fail to meet their promises. The organization has a very good
record of collecting all amounts due. Therefore the risks related to credit are considered minor.
Credit risk arises from cash and short term deposits with banks. The Company does not have any
significant concentrations of credit risk.
The amount that best represents the Company’s maximum exposure to credit risk at 31 December 2019 is
made up as follows:
SGDA Ethiopia 31-Dec-20 31-Dec-19

Cash at Bank 2,775,740 729,295
Balance as at 31 December 2,775,740 729,295
No collateral is held for any of the above asset.
v) Compliance or regulatory risk

Compliance or regulatory risk arises when the regulatory body such as Agency for Civil Society
Organization (ACSO) issued new regulation like threshold for program and administrative expenses, limit
the scope of operation affects the over operation of SGDA. SGDA has close follow up on those risks and
set proper safeguard mechanism in place to avoid the risk related with compliance and regulation.
Note 4 Significant accounting policies
4.1 Introduction to summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented, unless otherwise stated.
4.2 Cash and cash equivalent
13
Cash comprise cash on hand and cash at bank, deposits on call and highly liquid investments with an
original maturity of 3 months or less, which are readily convertible to known amounts of cash and are
subject to insignificant risk of changes in value. Bank account balances include amounts held at various
banks in Ethiopia at the end of the financial year.
4.3 Property, plant and equipment
Recognition and measurement

All property, plant and equipment is stated at historical cost, less accumulated depreciation and
accumulated impairment losses. This includes costs that are directly attributable to the acquisition of the
asset and the initial estimate of dismantling and site restoration costs. Where an asset is acquired for nil or
nominal consideration, the fair value at the date of acquisition is deemed to be its cost. The threshold for
recognition of property, plant and equipment as an asset is Birr 4,000 or more per unit.
Subsequent costs
SGDA elected to apply the cost model to measurement after recognition instead of the revaluation
model. Subsequent costs are included in the asset’s carrying amount or are recognized as a separate
asset only when it is probable that future economic benefits associated with the item will flow to SGDA
and the cost of the item can be measured reliably. Repairs and maintenance are charged to surplus
or deficit in the statement of financial performance in the year in which they are incurred.
Depreciation
Depreciation of property, plant and equipment is calculated using the straight- line basis over the
estimated useful lives, except for land, which is not subject to depreciation. When parts of an item
of property, plant and equipment have different useful lives, they are accounted for as separate items,
i.e., major components of property, plant and equipment. Assets under construction are not
depreciated, as they are not yet available for use.
The estimated useful lives are as follows:
Class Estimated useful life (in years)

Motor Vehicles 20
Office furniture & fittings 10
Computer & equipments 10
Leasehold improvements Shorter of lease term or life of applicable asset
The Company commences depreciation when the asset is available for use. And ceases depreciation of an
asset when the asset is derecognized.
Given the expected pattern of usage of property, plant and equipment, there are no residual values
following full depreciation.
Depreciation methods, useful lives and residual values are reviewed at each financial year-end and
adjusted if appropriate.
4.4 Foreign currency translation
a) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic
environment in which the Entity operates ('the functional currency'). The functional currency & the
presentation currency of SGDA is Ethiopian Birr (ETB).
14
Items included in the financial statements are measured using the currency of the primary economic
environment in which the Entity operates ('the functional currency'). The functional currency & the
presentation currency of SGDA is Ethiopian Birr (ETB).
B) Transactions and balances
Foreign currency transactions are translated into the functional currency using the exchange rates
prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement
of foreign currency transactions and from the translation at exchange rates of monetary assets and
liabilities denominated in currencies other than the Entity's functional currency are recognized in
statement of financial performance. Monetary items denominated in foreign currency are translated using
the closing rate as at the reporting date.
4.5 Employee benefits
Short-term employee benefits
Short-term employee benefits are those that are expected to be settled within 12 months after the
end of the year in which employees render the related service. Those benefits include assignment
benefits, regular monthly benefits (e.g. wages and salaries), compensated absences (e.g. paid leave,
such as annual leave), other short-term and non-monetary benefits, and the current portion of long-term
benefits provided to current employees. An expense is recognized when a staff member provides
services in exchange for employee benefits. A liability is reported for any entitlement that has not been
settled at the reporting date and represents the amount paid or expected to be paid to settle the liability.
Owing to the short-term nature of those entitlements, the liabilities are not discounted for the time value of
money and are presented as current liabilities.
Defined contribution plan/pension & profident fund contribution
SGDA has two defined contribution plans;
i) pension scheme in line with the provisions of Ethiopian pension of private organization employees
proclamation 715/2011. Funding under the scheme is 7% and 11% by employees and SGDA
respectively based on the employees' salary;
Employer's contributions to this scheme are charged to statement of financial performance in the period in
which it relates.
The contributions are treated as payments to a defined contribution plan. A defined contribution plan is a
pension plan under which fixed contributions are paid into a separate pension entity fund. Once the
contributions have been paid, the Company retains no legal or constructive obligation to pay further
contributions if the Fund does not hold enough assets to finance benefits accruing under the retirement
benefit plan. The contributions are recognized as employee benefit expense when they are due.
End of service/severance benefits
SGDA provides end of services/severance benefits for its employees. The severance benefits are based on
the statutory severance benefit as set out in Labour Proclamation No. 1156/2019 or as per entity Human
resource policy. The expected costs of these benefits are accrued over the period of employment. SGDA
severance pay plan for employees who serve one years & above.
15
SGDA provides end of services/severance benefits for its employees. The severance benefits are based on
the statutory severance benefit as set out in Labour Proclamation No. 1156/2019 or as per entity Human
resource policy. The expected costs of these benefits are accrued over the period of employment. SGDA
severance pay plan for employees who serve one years & above.
Other long-term employee benefits

Other long-term employee benefit obligations are benefits, or portions of benefits, that are not due to
be settled within 12 months after the end of the year in which employees provide the related service.
Those benefits include the non-current portions of annual leave and severance benefits. These are
recognized as non-current liabilities and are measured based on management estimate of severance pay
to those employees who have served SGDA at the reporting dates. The recent salary has been used to
determine the entittlemenmt.
Paid Annual Leave
SGDA recognises and accrues leave based on the number of outstanding leave days as at the financial
year end which is Zero in the current year. based on SGDA policy annual leave is not paid by cash &
leave transfer to next year is 5 days or less. The payment is based on an employees gross salary prorated
to the number of working days.
Employees are entitled for leave based on year of service as follows:
Annual leave entitlement

Duration of work
1st Year 14
2 Year
nd
15
3 Year
rd
16
Increased by 1 day for additional year till maximum of 35 days
Termination benefits
Termination benefits are payable whenever an employee's employment is terminated before the normal
retirement date or contract completion date.
4.6 Leases
The determination of whether an arrangement is a lease, or contains a lease, is based on the substance of
the arrangement and requires an assessment of whether the fulfilment of the arrangement is dependent on
the use of a specific asset or assets or whether the arrangement conveys a right to use the asset.
SGDA as a lessee
Leases that do not transfer to the Company substantially all of the risks and benefits incidental to
ownership of the leased items are operating leases. Operating lease payments are recognized as an
expense in the statement of financial performance on a straight-line basis over the lease term.
SGDA as a lessor
Leases where the Company does not transfer substantially all of the risk and benefits of ownership of the
asset are classified as operating leases. Rental income is recorded as earned based on the contractual terms
of the lease. Initial direct costs incurred in negotiating operating leases are added to the carrying amount
of the leased asset and recognized over the lease term on the same basis as rental income.
Right-to-use arrangements
Where SGDA has signed an agreement for the right-to-use assets without legal title/ownership of the
assets, e.g., through donated use granted to SGDA at no cost, the transaction is a non-exchange
transaction. In this case, an asset and revenue is16recognized at the point the agreement is entered
into. Recognition of an asset is contingent upon satisfying criteria for recognition of an asset.
Valuation of the asset will be the fair value of the resource for which the right to use was acquired at the
Where SGDA has signed an agreement for the right-to-use assets without legal title/ownership of the
assets, e.g., through donated use granted to SGDA at no cost, the transaction is a non-exchange
transaction. In this case, an asset and revenue is recognized at the point the agreement is entered
into. Recognition of an asset is contingent upon satisfying criteria for recognition of an asset.
Valuation of the asset will be the fair value of the resource for which the right to use was acquired at the
date of acquisition. The asset is depreciated over the shorter of the asset’s useful life and the right-to-use
term. Revenue is also recognized at the same amount as the asset, except to the extent that a liability
is also recognized.
4.7 Provisions and contingencies
Provisions
A provision is recognized if, as a result of a past event, SGDA has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be
required to settle the obligation. Provisions are measured at the present value of the expenses
expected to be required to settle the obligation. The increase in a provision due to the passage of time
is recognized as a finance cost.
Contingencies
Contingent assets
A contingent asset is disclosed when an inflow of economic benefits or service potential is probable. If
it has become virtually certain that an asset is no longer contingent and that its value can be
measured reliably, the asset and the related revenue are recognized in the year in which the change
occurs.
Contingent liabilities
A contingent liability is disclosed unless the possibility that it will be realized is remote. If it becomes
probable that a contingent liability will be realized, a provision is recognized in the year in which the
change of probability occurs.
4.8 Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits or service potential will
flow to SGDA and the revenue can be reliably measured.
Revenue from non-exchange transactions/Contributions

Revenue from non-exchange transactions is measured based on the increase in net assets recognized.
Where the full criteria for recognition of an asset under a non-exchange agreement are not fulfilled, a
contingent asset may be disclosed.
Voluntary contributions are non-exchange transactions which are recognized as revenue when
contribution agreements become enforceable, or when cash is received in the absence of contribution
agreements. To the extent that there is a related condition attached that would give rise to a liability to
repay the amount, deferred income is recognized instead of revenue.
In-kind contributions of goods provided are recognized as assets and revenue once it is probable
that future economic benefits or service potential will flow to SGDA and the fair value of
those assets can be measured reliably. SGDA disclose contributions of services in-kind if services
doesn't meet the definition of an asset.
Revenue from exchange transactions
17
Exchange transactions are those in which SGDA sells goods or provides services. Revenue comprises
the fair value of consideration received or receivable for the sale of goods and services. Revenue
is shown net of returns and discounts. Revenue is recognized when it can be reliably measured, when
the inflow of future economic benefits is probable and when specific criteria have been met.
Contribution in-kind and in-service

Contributions in-kind and in-service received by SGDA are recorded upon receipt from the contributor at
an amount equal to their fair market value as determined at the time of acquisition. Donated PPE and
inventories are recognized as an asset with the corresponding entry to revenue. Other in-kind or in-service
contributions are recognized as revenue with a corresponding entry to expense.
Miscellaneous Revenue (exchange transactions)

Miscellaneous revenue includes foreign currency revaluation, exchange rate gains and losses,
interest earned, realized gains and losses, and gains and losses from the sale of property, plant, and
equipment
4.9 Expense recognition
Under accrual accounting, expenses are decreases in economic benefits or service potential during the
reporting period in the form of outflows or consumption of assets or incurrences of liabilities that result in
decreases in net assets/equity. Expenses are recognized when the transaction or event causing the expense
occurs, and the recognition of the expense is therefore not linked to when cash or its equivalent is received
or paid.
4.10 Statement of cash flow
The cash flow statement is prepared using the indirect method permitted under IPSAS 2. This means that
the actual result for the financial year is adjusted for the effects of transactions of a non-cash nature, any
deferrals or accruals of past or future operating cash reciepts or payments, and items of revenue or
expense associated with investing cash flows.
The cash flow statement reports cash flows during the period classified by operating and investing
activities and the financing activities.
4.11 Related Parties
Related parties that have the ability to control, or exercise significant influence over SGDA in making
financial and operating decisions, as well as transactions with such parties, unless occurring within or
consistent with a normal relationship and on arms-length terms between such parties, are disclosed in the
notes to the financial statements. In addition, SGDA discloses specific transactions with key management
personnel and their family members.
18
NOTES TO THE FINANCIAL STATEMENTS (Continued)
(In ETB)
Note 5 Cash and cash equivalents
31-Dec-20 31-Dec-19
Cash at Bank 2,775,740 729,295

Cash on hand - -
Total Cash and Cash equivalent 2,775,740 729,295
Note 6 Staff Receivable
Staff Receivable 314 -

Total Staff Receivable - 314 -
As at 31 December 2020, SGDA did not have any impairment on staff receivables
Note 7 Prepayments and Deposits
Prepayment 3,794 3,794.15

Total Prepayments and Deposits 3,794 3,794
Note 8 Property, plant and equipment
SGDA has three (3) broad categories of property, plant and equipment.
PPEs are capitalized if their cost is greater or equal to the threshold limit set at ETB 4,000.00 or more per unit. They are
depreciated over the asset’s estimated useful life using the straight line method. The threshold level is reviewed periodically.
Property, plant and equipment Reconciliation
PPE Opening Additions Transfer/ Disposal As at 31 Dec 2020
Cost
Motor Vehicle 522,500 - - 522,500

Office furniture & fittings 57,000 - - 57,000
Computer & Equipment 82,100 - 82,100
Total 661,600 - - 661,600
Accumulated depreciation
Motor Vehicle 326,432 26,197 352,629

Office furniture & fittings 33,533 5,716 39,249
Computer & Equipment 44,797 8,210 - 53,007
Total 404,762 40,122 - 444,884
Book Value 256,838 216,716
Assets are reviewed annually to determine if there is any indication that assets may be impaired in their value. As at 31
December 2020, SGDA did not have any impairment on property, plant and equipment.
17
(In ETB)
Assets are reviewed annually to determine if there is any indication that assets may be impaired in their value. As at 31
December 2020, SGDA did not have any impairment on property, plant and equipment.
Note 9 Account Payable
31-Dec-20 31-Dec-19
Current
Retention from contracts 51,388 51,388
Total Accounts Payable 51,388 51,388
Note 10 Government Payable
SGDA
Income Tax Payable 47,785 13,758
Pension Contribution 13,729 8,720
Withholding Tax Payable 7,140 7,139
Total Government Payable 68,653 29,616
Note 11 Accrued staff benefits
SGDA
Severance Payable 168,069 96,559
Total Accrued Staff Benefits 168,069 96,559
SGDA severance pay plan for its employees who have served for 1 years and above and are below the retirement age. The
final pay-out is determined by reference to current benefit’s level (monthly salary) and number of years in service and is
calculated as 1month salary for the first year in employment plus 1/3 of monthly salary for each subsequent in employment
to amaximum of 12 months final monthly salary.
Note 12 Other current liabilities
SGDA 31-Dec-20 31-Dec-19
Staff Payables 58,346 -

Total other current liabilities 58,346 -
Note 13 Revenue
SGDA

Contributions and donations
Voluntary Contributions/Donations 8,783,840 4,944,215
Total Revenue 8,783,840 4,944,215
18
(In ETB)
Note 14 Expenses
SGDA 31-Dec-20 31-Dec-19
Wages, salaries and employee benefits 1,575,697 1,150,749

Severance expense 24,377 15,954
Travel, accommodation & perdium 42,821 332,125
Fuel 23,973 66,394
repair & maintenance 206,849 99,800
Vechicle Insurance & inspection expense 16,898 9,972
Uniform & school material 213,560 134,310
Supplementary food for beneficiaries 548,737 333,245
Medical expense for beneficiaries 9,053 4,864
community support 2,074,600 273,414
Bati Bora water supply project work Expense 1,076,576 1,206,704
Agricultural kits & seed purchse cost 144,155 135,174
Pilot testing & identifying smart agriculture activities - 30,100
Local value chain expense - 111,428
Workshop, training, seminars 350,761 389,060
Monitoring & Evaluation 40,228 46,179
Documentary Film Production - 12,000
Distribution expense - 149,173
Office rent 180,304 61,839
Utilities & tele bill 85,613 34,922
Professional fee 197,967 96,150
Office supplies, printing & stationary 68,680 32,372
Depreciation expense 40,122 40,035
Miscellaneous expense 38,675 12,198
Finance cost 740 760
Total expenses 6,960,385 4,778,923
Expenses in the Program and Admin are reported on an accrual basis, recognizing expense when goods are received and
services are rendered.
NOTE 15 Related Parties: key management personnel
The key management personnel of SGDA are the Executive Director, Program Officer and Program Coordinators. These
persons have the authority and responsibility for planning, directing and controlling the activities of SGDA and influencing
its strategic direction.
Key Management Personnel 31/Dec/2020 31/Dec/2019
Number of individuals 6 6
Aggregate Remuneration (In ETB)
The aggregate remuneration paid to key management personnel includes gross salaries, employer contributions to the
pension plan and annual leave benefit. Key management personnel are also qualified for post-employment benefits
(Severance benefit), which are payable only upon separation. No non-monetary and indirect benefits were paid to key
management personnel.
19
(In ETB)
Transactions with related party entities

Except otherwise noted in these statements for revenue from non-exchange transactions, including contributions in
kind, all transactions made with third parties occur within a normal supplier or client/recipient relationship or at
arm’s-length terms and conditions.
NOTE 16 Commitments
There were no commitments for capital expenditure at the reporting date.
NOTE 17 Provisions, contingent liabilities and contingent assets
As at 31 December 2020, EWAR had not recognized any provisions. There were no contingent assets or
contingent liabilities arising as at the reporting date
Note 18 Events after the reporting date
SGDA’s reporting date is 31 December 2020. On the date of the signing of these accounts, no material events,
favourable or unfavourable, had been incurred between the balance sheet date and the date when the financial
statements were authorized for issue that would have had an impact on the financial statements.
20
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Project code Accdesc Local GAAP IPSAS FS class
1101-00-00 Cash at Bank CBE(Finfinne bra) Cash and bank balance Cash and bank balance
1102-00-00 Cash at Bank CBE(Adama BranchCash and bank balance Cash and bank balance
1103-00-00 Cash at AIB(Awash Int.Bank) Cash and bank balance Cash and bank balance
1104-00-00 Cash at Foreign Bank(Finfinne) Cash and bank balance Cash and bank balance
1317-00-00 Edosa Hanbisa Recivable Staff Receivable Staff Receivable
NEW prepayment Prepayments and Deposits
1504-01-01 Vehcle Property, Plant and Equipment Property, Plant and Equipment
1509-01-01 Office Equipment Property, Plant and Equipment Property, Plant and Equipment
1801-00-00 Office Equipment Property, Plant and Equipment Property, Plant and Equipment
1803-00-00 Office Furnitures Property, Plant and Equipment Property, Plant and Equipment
1804-00-00 Vehcles Property, Plant and Equipment Property, Plant and Equipment
NEW Vehicle Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Vehicle Property, Plant and Equipment Property, Plant and Equipment
NEW Office furniture & fittings Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Office furniture & fitting Property, Plant and Equipment Property, Plant and Equipment
NEW Computer & Equipment Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Computer & EquipmentProperty, Plant and Equipment Property, Plant and Equipment
1317-00-00 Edosa Hanbisa Recivable Other current liabilities Other current liabilities
2001-00-01 Employees Income Tax-Admin Income tax payable Government Payable
2002-00-01 Pension Contribution-Admin Pension contribution Government Payable
2003-00-01 Withholding Tax Payable Witholding tax payable Government Payable
2201-00-01 Retention Payable Accounts Payable Accounts Payable
NEW Severance Payable Accrued staff benefits
NEW Accumulated Surplus or Deficit Accumulated Surplus or Deficit
3001-00-00 Fund Balance Fund balance Fund balance
4
1. 1. 2019
31.12. 2018
Project code Accdesc Local GAAP IPSAS FS class Existing GAAP
Before
Classifica
1101-00-00 Cash at Bank CBE(Finfinne bra) Cash and bank balance Cash and bank balance 192,937 192
1102-00-00 Cash at Bank CBE(Adama BranchCash and bank balance Cash and bank balance 11,411 11
1103-00-00 Cash at AIB(Awash Int.Bank) Cash and bank balance Cash and bank balance 70,875 70
1104-00-00 Cash at Foreign Bank(Finfinne) Cash and bank balance Cash and bank balance 4,919 4
1317-00-00 Edosa Hanbisa Recivable Staff Receivable Staff Receivable (1,002) (1
1504-01-01 Vehcle Property, Plant and Equipment Property, Plant and Equipment 1
1509-01-01 Office Equipment Property, Plant and Equipment Property, Plant and Equipment 1
1801-00-00 Office Equipment Property, Plant and Equipment Property, Plant and Equipment 22
1803-00-00 Office Furnitures Property, Plant and Equipment Property, Plant and Equipment 30
1804-00-00 Vehcles Property, Plant and Equipment Property, Plant and Equipment 2
NEW Vehicle Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Vehicle Property, Plant and Equipment Property, Plant and Equipment
NEW Office furniture & fittings Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Office furniture & fitting Property, Plant and Equipment Property, Plant and Equipment
NEW Computer & Equipment Property, Plant and Equipment Property, Plant and Equipment
NEW Acc Deprn Computer & EquipmentProperty, Plant and Equipment Property, Plant and Equipment
1317-00-00 Edosa Hanbisa Recivable Other current liabilities Other current liabilities
2001-00-01 Employees Income Tax-Admin Income tax payable Government Payable (9,082) (9
2002-00-01 Pension Contribution-Admin Pension contribution Government Payable (8,649) (8
2003-00-01 Withholding Tax Payable Witholding tax payable Government Payable (3,645) (3
2201-00-01 Retention Payable Accounts Payable Accounts Payable (51,388) (51
3001-00-00 Fund Balance Fund balance Fund balance (206,432) (206
5
Project code Accdesc IPSAS FS class
1101-00-00 Cash at Bank CBE(Finfinne bra) Cash and bank balance

1102-00-00 Cash at Bank CBE(Adama Branch) Cash and bank balance
1103-00-00 Cash at AIB(Awash Int.Bank) Cash and bank balance
1104-00-00 Cash at Foreign Bank(Finfinne) Cash and bank balance
1317-00-00 Edosa Hanbisa Recivable Staff Receivable
1504-01-01 Vehcle Property, Plant and Equipment
1509-01-01 Office Equipment Property, Plant and Equipment
1801-00-00 Office Equipment Property, Plant and Equipment
1803-00-00 Office Furnitures Property, Plant and Equipment
1804-00-00 Vehcles Property, Plant and Equipment
NEW Vehicle Property, Plant and Equipment
NEW Acc Deprn Vehicle Property, Plant and Equipment
NEW Office furniture & fittings Property, Plant and Equipment
NEW Acc Deprn Office furniture & fittings Property, Plant and Equipment
NEW Computer & Equipment Property, Plant and Equipment
NEW Acc Deprn Computer & Equipment Property, Plant and Equipment
1317-00-00 Edosa Hanbisa Recivable Other current liabilities
2001-00-01 Employees Income Tax-Admin Government Payable
2002-00-01 Pension Contribution-Admin Government Payable
2003-00-01 Withholding Tax Payable Government Payable
2201-00-01 Retention Payable Account Payable
3001-00-00 Fund Balance Fund balance
4
Save
Filter Criteria includes: Report order is by ID. Generation
Report is printed in DetailDev't
Format.AssociationGeneral Ledger Trial BalanceAs of 31 Dec 2020
Account ID Account Description Debit Amt Credit Amt

1101-00 Checking Account(CBE Finfine) 219,523.89
1102-00 Checkig Account( CBE Adama) 470.64
1103-00 Checking Account(AIB Adma br 134,763.09
1104-00 Checking Account(CBE Forign 1,193,335.95
1105-00 Cash Prepayment 3,794.15
1106-00 CheckingAccount(CBE Lemlem 622,670.15
1107-00 Checing Account (AIB Bisho.br) 604,976.17
1314-00 Gada Waqayo Recivable 3,000.00
1317-00 Edosa Hambisa Recivable 53,935.09
1318-00 Derese Dhaba Recivable 314.30
1322-00 Aynalem Recevable 1,410.96
1400-00 Vehicle (Toyota pickup) 522,500.00
1400-01 Accumulated Dep.(Toyota Pickup 326,432.19
1402-00 Computer & Equipment 82,100.00
1402-02 Acc Dep (Computer & Equipmen 6,000.00
1404-04 Acc Dep Off/ Furniture & Fitin 33,533.15
2001-01 Employee Income Tax 47,785.01
2002-01 Employee Pension cotrib. Tax 13,728.70
2003-01 2% Witholding Tax Payable 7,139.59
2004-01 Retantion Payable 51,387.84
2005-01 Accrued severance Payable 96,559.32
3000-00 Fund Balance 764,384.72
3199 Beginning Balance Equity 207,378.34
3200-00 Retained Earning 151,312.77
4001-01-00 Donation from Rainbow(Watersp) 3,384,370.56
4001-02-00 Donation from Rainbow(Child ) 855,222.44
4002-01-00 Donation UEWCA F.Afr(Climate) 1,854,448.09
4003-01-00 Donation from CCRDA(staff Sec) 616,010.55
4004-01-00 Donation From Vission E(Child) 436,595.00
4005-01-00 Donation from Individual 81,833.73
4007-01-00 From Minstry of Revenue) 101,882.07
4008-01-00 Donation from awash Bank 800,000.00
4009-01-00 Donation for Orgn. Support 10,000.00
4010-01-00 Donation from Plan Int.Ethio. 643,477.40
5000-00-01 Project Cost Salary 1,104,624.60
5000-00-04 Fuel & Lubricunts Expense 23,973.00
06/06/2024 at 16:55:26 Page: 5

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5000-00-05 Vehicle Spair p & Maintenance 204,573.51
5000-00-06 stationary & Supplies Expense 30,897.84
5000-00-08 Telephone & Internet Expense 85,612.86
5000-00-09 Office Rent Expense 180,304.38
5000-00-10 Supplimantary food for sp/chil 548,736.86
5000-00-11 Capacity Building Training Exp 46,385.79
5000-00-12 perdiem for facilitate Expense 28,820.86
5000-00-13 Uniform & School Materials 191,122.23
5000-00-14 Bank service Charge & CPO 740.00
5000-00-15 Monitoring & evaluating projec 40,228.00
5000-00-16 Bati Bora w/suply project work 1,061,276.21
5000-00-18 Child sponcership Expense 53,362.91
5000-00-19 installing deflouride plant ex 15,300.00
5000-00-22 B/Bora Water commitee trainig 125,416.99
5000-00-23 Insurance,Bollo & third Party 16,898.39
5000-00-24 Annual Audit service Expense 25,000.00
5000-00-28 Project Lunching & project pre 72,301.11
5000-00-29 Off /equip Repair & Maintenanc 2,275.00
5000-00-30 Membership Fee Expense 15,300.00
5000-00-31 To Facilitate Farming of The C 5,810.00
5000-00-32 Medical Treatment of Child pro 9,053.00
5000-00-33 Individual Support Expense 112,313.70
5000-00-35 Severance Expense 24,377.17
5000-00-36 School fee for Sp/Children 22,437.50
5000-00-37 PC Exp.for Facili.d/f Proj.Act 127,943.55
5000-00-38 B/Bora Water Inaugural Expens 190,158.16
5000-00-39 CounsultantAdvocacySess.onL 39,109.09
5000-00-40 Advertising Expense 23,375.00
5000-00-41 Mirt Stove Project Expenese 69,850.00
5100-00-02 Conduct Road side Coffee ser 15,612.50
5100-00-05 Conduct Peer Education Discuti 40,824.82
5100-00-06 Monthly Allowance for Facilita 14,000.00
5100-00-07 Profeshional fee to conduct ba 106,578.26
5100-00-08 Facilita.& Organi.Proj.Activ. 109,480.14
5100-00-09 Web-Sit&Data Base Work Activi 27,280.00
5100-00-10 March 8 Celebration Expense 95,325.98
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5100-00-11 DevelopTOR & Guideline Expe 18,025.97
5100-00-12 Promotepeace,Democ.&Sustai. 30,023.88
6000-00-01 Set up drip Irrigation kits Ex 8,000.00
6000-00-07 prov.drought tolerant & imp se 56,353.44
6000-00-09 Org. Climate change adupt plat 2,710.00
6000-00-10 Regular Quarter meeting of co 10,426.88
6000-00-11 Qur. review meet of Stack hold 52,695.03
6000-00-16 Comp.Income generating activit 726,047.83
6000-10-01 Excutive Director Salary Expen 40,000.00
6000-10-02 Project Officer Salary Expense 115,599.96
6000-10-03 Accountant Salary Expense 78,000.00
6000-10-04 Facilitators Salary expense 38,400.00
6000-10-05 Support for Covid -19 440,729.14
6000-10-06 Expense for Sanitizer 19,756.00
6000-10-07 Guard Salary Expense 4,000.00
6000-10-08 Expense for Pesticide 87,801.25
6000-10-09 Market Linkage of Youth Projec 88,304.85
6000-10-10 Traini d/f Influs.Sector org. 55,000.00
7000-00-01 Executive Directors Salary Exp 19,500.00
7000-00-02 Gender Officer salary Exp. 10,800.00
7000-00-03 Project Coordinator Salary Exp 7,500.00
7000-00-04 Program Coordinator Salary Ex 9,000.00
7000-00-05 Finance & admin. Salary Exp. 6,750.00
7000-00-06 Casher Secretary Salary Exp. 2,625.00
7000-00-07 Human Resource Salary Exp. 6,750.00
7000-00-08 Cleaner Salary Expense 1,875.00
7000-00-09 Deriver Salary Expense 5,400.00
Total: 10,390,514.75 10,390,514.75
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Project code Accdesc IPSAS FS category
1101-00 Checking Account(CBE Finfine) Current Asset

1102-00 Checkig Account( CBE Adama) Current Asset
1103-00 Checking Account(AIB Adma br) Current Asset
1104-00 Checking Account(CBE Forign B) Current Asset
1105-00 Cash Prepayment Current Asset
1106-00 CheckingAccount(CBE Lemlem br) Current Asset
1107-00 Checing Account (AIB Bisho.br) Current Asset
1314-00 Gada Waqayo Recivable Current Liability
1317-00 Edosa Hambisa Recivable Current Liability
1318-00 Derese Dhaba Recivable Current Asset
1322-00 Aynalem Recevable Current Liability
1400-00 Vehicle (Toyota pickup) Non Current Asset
1400-01 Accumulated Dep.(Toyota Pickup Non Current Asset
NEW Office furniture & fittings Non Current Asset
1402-00 Computer & Equipment Non Current Asset
1402-02 Acc Dep (Computer & Equipment) Non Current Asset
1404-04 Acc Dep Off/ Furniture & Fitin Non Current Asset
2001-00-01 Employees Income Tax-Admin Current Liability
2002-00-01 Pension Contribution-Admin Current Liability
2003-00-01 Withholding Tax Payable Current Liability
2201-00-01 Retention Payable Current Liability
2005-01 Severance Payable Non Current Liabili
3199 Beginning Balance Equity Fund Balance
3001-00-00 Fund Balance Fund Balance
4
Project code Accdesc IPSAS FS category IPSAS FS Class
1101-00 Checking Account(CBE Finfine) Current Asset Cash and bank balance
1102-00 Checkig Account( CBE Adama) Current Asset Cash and bank balance
1103-00 Checking Account(AIB Adma br) Current Asset Cash and bank balance
1104-00 Checking Account(CBE Forign B) Current Asset Cash and bank balance
1105-00 Cash Prepayment Current Asset Prepayments and Deposits
1106-00 CheckingAccount(CBE Lemlem br) Current Asset Cash and bank balance
1107-00 Checing Account (AIB Bisho.br) Current Asset Cash and bank balance
1314-00 Gada Waqayo Recivable Current Liability Other current liabilities
1317-00 Edosa Hambisa Recivable Current Liability Other current liabilities
1318-00 Derese Dhaba Recivable Current Asset Staff Receivable
1322-00 Aynalem Recevable Current Liability Other current liabilities
1400-00 Vehicle (Toyota pickup) Non Current AssetProperty, Plant and Equipment
1400-01 Accumulated Dep.(Toyota Pickup Non Current AssetProperty, Plant and Equipment
NEW Office furniture & fittings Non Current AssetProperty, Plant and Equipment
1402-00 Computer & Equipment Non Current AssetProperty, Plant and Equipment
1402-02 Acc Dep (Computer & Equipment) Non Current AssetProperty, Plant and Equipment
1404-04 Acc Dep Off/ Furniture & Fitin Non Current AssetProperty, Plant and Equipment
2001-00-01 Employees Income Tax-Admin Current Liability Government Payable
2002-00-01 Pension Contribution-Admin Current Liability Government Payable
2003-00-01 Withholding Tax Payable Current Liability Government Payable
2201-00-01 Retention Payable Current Liability Accounts Payable
2005-01 Severance Payable Non Current LiabiliAccrued staff benefits
3199 Beginning Balance Equity Fund Balance Accumulated Surplus or Deficit
3001-00-00 Fund Balance Fund Balance Fund balance
5
Proposed Adjustments
2018
Account Description Account # DR CR
Vehcle 1504-01-01 1
Office Equipment 1509-01-01 1
Office Equipment 1801-00-00 22
Office Furnitures 1803-00-00 30
Vehcles 1804-00-00 2
Accumulated Surplus or Deficit NEW 56
Motor Vehicle NEW 522,500

Office furniture & fittings NEW 57,000
Computer & Equipment NEW 82,100
Acc Deprn Vehicle NEW 300,307
Acc Deprn Office furniture & fittings NEW 27,833
Acc Deprn Computer & Equipment NEW 36,587
Accumulated Surplus or Deficit NEW 296,873
Control Total 661,656 661,656
2019
Motor Vehicle NEW m

Office furniture & fittings NEW -
Computer & Equipment NEW -
Acc Deprn Vehicle NEW 26,125
Acc Deprn Office furniture & fittings NEW 5,700
Acc Deprn Computer & Equipment NEW 8,210
Depreciation Expense-Vehicle NEW 26,125
Depreciation Expense-Office equipment NEW 5,700
Depreciation Expense-Computer & Equipment NEW 8,210
2020
Motor Vehicle 1400-00 -

Office furniture & fittings NEW 57,000
Computer & Equipment 1402-00 -
Accumulated Surplus or Deficit 3199 6,203
Acc Deprn Vehicle 1400-01 26,197

Acc Deprn Office furniture & fittings 1404-04 5,716
Acc Deprn Computer & Equipment 1402-02 59,007
Depreciation Expense-Vehicle NEW 26,197
Depreciation Expense-Office equipment NEW 5,716
Depreciation Expense-Computer & Equipment NEW 8,210
50,796.77
111,544.63
6,960,385.46
105,631.82
PPE
Acc. Carrying
2018 Cost depreciation amount
Ledger
Motor Vehicle 3 - 3
balance
Office furniture & fittings 53 - 53
Computer & Equipment - - -
Total ledger balance 56 - 56
IPSAS
Motor Vehicle 522,500 300,307.19 222,193
balance
Office furniture & fittings 57,000 27,833.15 29,167
Computer & Equipment 82,100 36,586.77 45,513
Total IPSAS balance 661,600 364,727 296,873

Difference 661,544 364,727 296,817
PPE
Acc. Carrying
Ledger
Motor Vehicle 522,500 300,307 222,193
balance
Office furniture & fittings 57,000 27,833 29,167
Computer & Equipment 82,100 36,587 45,513
Total ledger balance 661,600 364,727 296,873
IPSAS
Motor Vehicle 522,500 326,432.19 196,068
balance

0 Difference 0 40,035 (40,035)
PPE
Acc. Carrying
Ledger
Motor Vehicle 522,500 326,432
balance 196,068
Office furniture & fittings - 33,533 (33,533)
Computer & Equipment 82,100 (6,000) 88,100
Total ledger balance 604,600 353,965 250,635
(57,000) (50,797) (6,203)
IPSAS
Motor Vehicle 522,500 352,628.77
balance 169,871

Difference 57,000 90,919 (33,919)
Adjustments
2018
Accumulated Surplus or Deficit 80,606
Accued sevevrance 80,606
2019
Personnel expense - Severance 15,954
2020
Personnel expense - Severance 71,510
111,632
111,632
Balance
2018 2019 2020
Accued sevevrance 80,605.59 96,559.32 168,068.95
ture)
31 December 2019
Notes ETB
Voluntary Contributions/Donations 4,944,215.44 AA1
Voluntary Contributions -in-kind - AA2
4,944,215.44
Revenue from exchange transactions
Rendering of services - BB1
Rental revenue - BB2
Finance revenue - BB3
Other operating revenue - BB4
Gain/Loss on exchange rate - BB5
-
Total revenue 4,944,215.44

Expenses
Wages, salaries and employee benefits 1,150,748.98 CC Wages, salaries and employee b
Severance expense 15,953.73 CC1 Severance expense
Travel, accommodation & perdium 332,125.20 DD Travel, accommodation & perdiu
Fuel 66,394.34 EE Fuel
repair & maintenance 99,799.64 FF repair & maintenance
Vechicle Insurance & inspection expense 9,972.47 FF1 Vechicle Insurance & inspection
Uniform & school material 134,309.71 GG Uniform & school material
Supplementary food for beneficiaries 333,245.47 HH Supplementary food for benefic
Medical expense for beneficiaries 4,863.90 HH3 Medical expense for beneficiarie
community support 273,414.09 HH2 community support
Bati Bora water supply project work Expense 1,206,704.00 HH1 Bati Bora water supply project w
Agricultural kits & seed purchse cost 135,173.60 HH4 Agricultural kits & seed purchse
Pilot testing & identifying smart agriculure activities 30,100.00 HH5 Pilot testing & identifying smart
Local value chain expense 111,428.00 HH6 Local value chain expense
Workshop, training, seminars 389,060.27 II Workshop, training, seminars
Monitoring & Evaluation 46,179.35 JJ Monitoring & Evaluation
Documentary Film Production 12,000.00 KK Documentary Film Production
Distrubution expense 149,173.25 KK1 Distrubution expense
Office rent 61,839.36 LL Office rent
Utilities & tele bill 34,922.22 MM Utilities & tele bill
Professional fee 96,150.00 NN Professional fee
Office supplies, printing & stationary 32,372.00 OO Office supplies, printing & statio
Depreciation expense 40,035.00 QQ Depreciation expense
Miscellaneous expense 12,198.00 QQ1 Miscellaneous expense
Finance cost 760.00 RR Finance cost
Total expenses 4,778,922.58
Surplus for the year 165,292.86

Wages, salaries and employee benefits
Severance expense
Travel, accommodation & perdium
epair & maintenance

Vechicle Insurance & inspection expense
Uniform & school material
Supplementary food for beneficiaries
Medical expense for beneficiaries
community support
Bati Bora water supply project work Expense
Agricultural kits & seed purchse cost
Pilot testing & identifying smart agriculure activities
Local value chain expense
Workshop, training, seminars
Monitoring & Evaluation
Documentary Film Production
Distrubution expense
Utilities & tele bill

Professional fee
Office supplies, printing & stationary
Depreciation expense
Miscellaneous expense
Finance cost
Admin cost Expenditure 18% Amount
Admin Cost Salary Expense 638,924.88

Public Transportation & Loading & Unloading cost 30,930.51
Fuel & Lubricunts Expense 19,543.84
Vehicle Spair parts & Maintenance 30,047.24
Stationary & Supplies Expense 19,852.00
Utilities (water,Elec)Exp 7,611.90
Telephone & Internet Expense 9,956.32
Head Office Rent Expense 31,839.36
Bank service Charge & CPO 760.00
Board & General Assembly Meeting Expen 13,490.00
Annual Audit service Expense 16,150.00
Insurance,Bollo & third Party Expense 13,766.62
Membership Fee Expense 9,000.00
Total Admin Expenditure 841,872.67
Programme cost Expenditure 82% Amount

Programme Cost Salary Expense 446,190.73
Public Transportation & loading & Unloading for Project Site 72,200.00
Fuel & Lubricunts Expense for Project site Activities 46,850.50
Vehicle Spair parts & Maintenance for Bati Bora Water supply P 61,652.40
Stationary & Supplies for Project site Expense 12,520.00
Telephone & Internet Expense for Project site 17,354.00
Mojo & Kurifu Project site Office Rent Expense 30,000.00
Supplimantary food for 140 sponcerd children of Kuriftu Kebele 333,245.47
Capacity Building Training for stakeholder & Community 75,971.00
Perdiem for facilitating & Coordinating project site activities 91,363.95
Uniform & School Materials for 140 Kuriftu Kebele Children 134,309.71
Monitoring & evaluating project site activities 46,179.35
Bati Bora water suply project work Expense 425,608.12
Project site Documentary Film Production Expense 12,000.00
Purchasing Casual Cloth for 140 Kuriftu sponcerd children 137,378.51
Installing deflouride plant for B/Bora water supply Expense 781,095.88
Area Closer Activities Expense 3,198.00
Bati Bora Water commitee trainig Expense 23,115.82
Maintaing & Instaling office Equipment of Project cite Exp 8,100.00
Training of FSWs peer education Expense Expe 24,851.95
Adama wereda displaced community support 18,000.00
Project Lunching & project preparation expense 28,087.71
Facilitate & Capacitate Farming activities for Community 7,214.00
Medical Treatment of seek Children of Kuriftu 4,863.90
Condum Distribution & Out let Expense 96,643.25
Conduct Road side Coffee sermony Expense 16,430.95
Hotel & restorant owner training Expense 23,497.49
Design & Distribute BBC Materials for the Community 52,530.00
Conduct HIV & AIDs Peer Education Discution group Expense 10,040.00
Monthly Allowance for project site HIV & AIDs Facilitators 22,251.20
Profeshional fee to conduct base line servey Expense 80,000.00
Set up drip Irrigation kits Expense 122,350.60
Producing & disminating Traing materials Expense 10,000.00
Organize 10 village level discution groups Expense 150,000.00
Piloting & implimentng.water shade management Expense 101,889.54
Piloting , testing & identify smart agriculure Expense 30,100.00
Training on small scalle irrigation Expense 20,006.20
Providing drought tolerant & Emproved seed Expense 12,823.00
Provide material support for Extension workers Expense 20,024.00
Organize Climate change aduptation plat form Expense 9,007.98
Regular Quarter meeting of community Expense 7,282.12
Qurter review meeting of Stackholders Expense 7,200.00
Expense for Local Value chain Expense 111,428.00
Intial Capital for VSLA Members of the Women's group 40,000.00
Computable Income generating activities for Women's group 100,000.00
Total Programme Expenditure 3,884,855.33

IPSAS Remeasurement and Reclassification
As at 01 January 2019
REMEASUREMENT Account
1 Vehicles NEW
Computer & Equipment NEW
Office furniture & fittings NEW
Fund balance - Accumulated surplus/defecit NEW
Being to recognize deemed cost of PPE at date of transition to IPSAS
2 Accumulated Depreciation-Vehicles NEW

Accumulated Depreciation-Computer & Equipment NEW
Accumulated Depreciation-Office furniture & fittings NEW
Fund Balance - Accumulated surplus/defecit NEW
Being to recognize accumulated depreciation of PPE at date of transition to IPSAS
3 Vehicles 1504-01-01
Office Equipment 1509-01-01
Office Equipment 1801-00-00
Office furniture 1803-00-00
Vehicles 1804-00-00
Being to derecognize PPE nominal value at the date of transition to IPSAS
4 Fund Balance NEW

Being to recognize severance payable at the date of transition to IPSAS
RECLASSIFICATION Account
1 Edosa Hanbisa Recivable 1317-00-00

Edosa Hanbisa Recivable NEW
Being to reclassify Receivable abnormal balance to payable at the date of transition to IPSAS
REMEASUREMENT Account
1 Accumulated Depreciation-Vehicles NEW

Accumulated Depreciation-Computer & Equipment NEW
Accumulated Depreciation-Office furniture & fittings NEW
Depreciation expense NEW
Being to recognize accumulated depreciation of PPE at date of transition to IPSAS
2 Severance expense NEW

Accrued Severance payable NEW
Being to derecognize severance payable at the date of transition to IPSAS
RECLASSIFICATION Account
1 VAT refund 4007-01-00

Fund balance 3001-00-00
Being to reclassify VAT refund income to fund balance
2 Prepayment NEW
Insurance,Bollo & third Party Expense 5000-00-23
Being to reclassify unexpired section of insurance to prepayment

DEBIT CREDIT
522,500.00
82,100.00
57,000.00
661,600.00
300,307.19
36,586.77
27,833.15
364,727.11
1.00
1.00
22.00
30.00
2.00
56.00
80,605.59
80,605.59
DEBIT CREDIT
1,002.00
1,002.00
DEBIT CREDIT
26,125.00
8,210.00
5,700.00
40,035.00
15,953.73
15,953.73
DEBIT CREDIT
223,425.31
223,425.31
3,794.15
3,794.15
###
###
STATEMENT OF MANAGEMENT RESPONSIBILITIES
0
The Commercial Code of Ethiopia 1960 require the Management to prepare financial statements that represent the
state of affairs of the Company at the end of the financial year and the operating results of the Company for that
year. The Commercial Code of Ethiopia 1960 also requires the Management to ensure that the Company keeps
proper accounting records which disclose with reasonable accuracy at any time the financial position of the
Company. The Management is also responsible for safeguarding the assets of the Company.
The Management is responsible for the preparation and fair presentation of these financial statements that give a
true and fair view of the statement of financial position of the Company at the reporting date and of its
comprehensive income in the manner required by the Commercial Code of Ethiopia of 1960, and for such internal
control as management determines is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error. The responsibilities include;
a) designing, implementing and maintaining such internal control as they determine necessary to enable the
presentation of financial statements that are free from material misstatement, whether due to error or fraud;
b) selecting suitable accounting policies supported by reasonable and prudent judgments and estimates, that
are consistently applied; and
c) keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the
Company.
The Management further accepts responsibility for the maintenance of accounting records that may be relied upon
in the preparation of financial statements, as well as adequate systems of internal financial control.
The Management is of the opinion that the financial statements give a true and fair view of the state of the
financial affairs of the company and of its profit or loss.
Nothing has come to the attention of the Management to indicate that the Company will not remain a going
concern for at least twelve months from the date of this statement.
Signed on behalf of the Management by:
5
INDEPENDENT AUDITORS' REPORT
TO THE SHAREHOLDERS OF ABC PRIVATE LIMITED COMPANY
Opinion
We have audited the accompanying financial statements of ABC Private Limited Company. set out on pages 8 to 46, which
comprise the statement of financial position as at 7 July 2019, and the statement of profit or loss and other comprehensive
income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial
statements, including a summary of significant accounting policies.
In our opinion, the financial statements give a true and fair view of the financial position of the Company as at 7 July 2019
and of its financial performance and cash flows for the year then ended in accordance with International Financial Reporting
Standards and in the manner required by the Commercial Code of Ethiopia 1960.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing ("ISA"). Our responsibilities under those
standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants’
Code of Ethics for Professional Accountants (IESBA Code), together with other ethical requirements that are relevant to our
audit of the financial statements in Ethiopia, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Management responsibility for the Financial Statements
The Management is responsible for the preparation of financial statements that give a true and fair view in accordance with
International Financial Reporting Standards and the requirements of the Commercial Code of Ethiopia 1960 and for such
internal controls as Management determines are necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
the management either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company's financial reporting process.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these consolidated financial statements.
6
INDEPENDENT AUDITORS' REPORT
TO THE MANAGEMENT OF LUNA EXPORT SLOUGHTER HOUSE PLC (CONTINUED)
Auditors’ Responsibilities for the Audit of the Financial Statements (Continued)
As part of an audit in accordance with ISA, we exercise professional judgement and maintain professional skepticism
throughout the audit. We also:
i) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
ii) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Company's internal control.
iii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by the management.
iv) Conclude on the appropriateness of the management use of the going concern basis of accounting and based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant
doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we
are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a
going concern.
v) Evaluate the overall presentation, structure and content of the financial statements, including the disclosures and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.
We communicate with managementregarding, among other matters, the planned scope and timing of the audit and
significant audit findings including any significant deficiencies in internal control that we identify during our audit.
We also provide those management with a statement that we have complied with the relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, related safeguards.
The engagement partner on the audit resulting in this independent auditors' report is -----------------.
Registered Auditor
Date: ----------
XXXXXXXXXXXXXXXXX, Chartered Certified Accountants and Authorized Auditors
(Auditors' of ABC Private Limited Company)
Addis Ababa, Ethiopia
7
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
7 July 2019
Notes ETB
Revenue #REF! #REF!
Cost of sales #REF! #REF!
Gross profit #REF!
Other income #REF! #REF!

Selling and distribution expense #REF! #REF!
Administration expense #REF! #REF!
Finance income (cost), net #REF! #REF!
Investment income #REF! #REF!
Share of profit pf associates -
Impairment losses and gains on financial assets Err:504
Provisions -
Profit before tax Err:504
Income tax expense #REF! #REF!
Profit for the year Err:504
Other comprehensive income, net of income tax
Items that will not be subsequently reclassified into profit or loss:

Gain on revaluation of property -
Deferred tax (liability)/ asset on revaluation -
Total comprehensive income for the year Err:504
8
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
7 July 2019 7 July 2018
Notes ETB ETB
Revenue #REF! #REF! #REF!
Cost of sales #REF! #REF! #REF!
Gross profit #REF! #REF!
Other income #REF! #REF! #REF!

Selling and distribution expense #REF! #REF! #REF!
Administration expense #REF! #REF! #REF!
Finance income (cost), net #REF! #REF! #REF!
Investment income #REF! #REF! #REF!
Share of profit pf associates - -
Impairment losses and gains on financial assets Err:504 Err:504
Provisions - -
Profit before tax Err:504 Err:504
Income tax expense #REF! #REF! #REF!
Profit for the year Err:504 #REF!
Other comprehensive income, net of income tax
Items that will not be subsequently reclassified into profit or loss:

Gain on revaluation of property - -
Deferred tax (liability)/ asset on revaluation - -
Total comprehensive income for the year Err:504 #REF!
9
STATEMENT OF CHANGES IN EQUITY
Retained Revaluation Legal

Share capital earnings reserve reserve Total
Notes ETB ETB ETB ETB ETB
As at 8 July 2017 77,143,000 #REF! #REF! 5,663,556 #REF!
Profit for the year - #REF! - - #REF!
Total comprehensive income for the year 77,143,000 #REF! #REF! 5,663,556 #REF!
Transactions with owners in their capacity

as owners
Transfer of excess depreciation on revaluation - - - - -

Dividend capitalized #REF! #REF! - - #REF!
Dividend distributed to shareholders 1,616 #REF! - - #REF!
Transfer to legal reserve - #REF! - #REF! #REF!
As at 7 July 2018 #REF! #REF! #REF! #REF! #REF!
As at 7 July 2018 #REF! #REF! #REF! #REF! #REF!

-
Profit for the year - Err:504 - - Err:504
Total comprehensive income for the year #REF! Err:504 #REF! #REF! #REF!
Transactions with owners in their

capacity as owners
Issue of shares 1,692 - - - 1,692

Dividend distributed to shareholders - (15,578,764) - - (15,578,764)
Dividend capitalized 21,120,308 (21,120,308) - - -
Transfer to legal reserve - - - - --
As at 7 July 2019 #REF! Err:504 #REF! #REF! #REF!
#NAME?
10
STATEMENT OF CASH FLOWS
7 July 2019 7 July 2018
Notes ETB ETB
Cash flows from operating activities

Cash generated from operations #REF! - #REF!
Retirement benefit paid - -
Interest paid - (10,755,686)
Income tax paid #REF! - #REF!
Net cash inflow from operating activities - #REF!
Cash flows from investing activities

Purchase of equity investment #REF! - #NAME?
Purchase of Ethiopian government bonds #REF! - #REF!
Purchase of investment property #REF! #REF! -
Purchase of property, plant and equipment #REF! #REF! #REF!
Purchase of property, plant and equipment - #REF!
Additional investment in fixed deposit #REF! #REF! #REF!
Net cash outflow from investing activities #REF! #REF!
Cash flows from financing activities

Dividend paid #REF! #REF! #REF!
Loan received during the year #REF! 45,000,000
Settlement of loan - (34,298,117)
Change in cost of variance on customs estimate #REF! 663,169
Proceeds from issues of shares 26,28a #REF! 1,616
Net cash outflow from financing activities #REF! #REF!

Net decrease in cash and cash equivalents #REF! #REF!
Cash and cash equivalents at the beginning of the year #REF! #REF! (16,705,250)
Cash and cash equivalents at the end of the year #REF! #REF! #REF!
#NAME?
11

SGDA-IPSAS Based Financial Statements-2020

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Save Generation Development Association (SGDA)

REPORTS AND ANNUAL FINANCIAL STATEMENTS

Key Organization Information and Management 3

Report of the Management 4

Statement of Managements' responsibilities 5

Independent auditor's report 6-7

Statement of financial position 8

Statement of financial performance 9

Statement of changes in net assets/equity 10

Statement of cash flows 11

Notes to the financial statements 12-

Organization TIN number

Executive Management (as of 31 December 2019)

Name: Solomon Demena & Co Certified Audit Firm

Save Generation Development Association (SGDA)

Commercial Bank of Ethiopia

Save Generation Development Association (SGDA) is an indigenous non-governmental and non-

Approval of the financial statements

31 Dec 2019 1 Jan 2019

Cash and bank balance 6 729,295.37 A 280,143.14 A

Total Current Assets 733,089.52 280,143.14

Property, Plant and Equipment Err:509 256,837.89 Q 296,872.89 Q

Total Non-current Assets 256,837.89 296,872.89

TOTAL ASSETS 989,927.41 577,016.03

LIABILITIES AND EQUITY

Account Payable 8 51,387.84 T 51,388.00 T

Total current liabilities 81,004.28 73,766.96

Accrued staff benefits 10 96,559.32 AD 80,605.59 AD

Total non-current liability 96,559.32 80,605.59

Total liability 177,563.60 154,372.55

Net assets /Fund balance 596,152.51 AG 206,432.18 AG

Total Equity 812,363.81 422,643.49

Total equity and liabilities 989,927.41 577,016.03

Notes 31 Dec 2020 31 Dec 2019

Cash and bank balance 5 2,775,740 729,295

Total Current Assets 2,779,848 733,090

Total Non-current Assets 216,716 256,838

TOTAL ASSETS 2,996,564 989,927

LIABILITIES AND EQUITY

Total liability 346,456 177,564

Total equity and liabilities 2,996,564 989,927

The notes on pages 10 to 20 are an integral part of these financial statements.

Notes 31 December 2020 31 December 2019

Revenue from non-exchange transactions

Program expenses 85%

Total expenses 100%

Surplus for the year

The notes on pages 10 to 20 are an integral part of

Wages, salaries and employee benefits-Administrative staff 638,925

Total expenses 4,778,923

Surplus for the year 165,293

For the year ended 31 December 2020

Balance as at 31 December 2019 596,153 216,211 812,364

Transfer to Fund Balance 216,211 (216,211)

Surplus for the period 1,823,454 1,823,454

Increase in Fund Balance 14,290 - 14,290

Balance as at 31 December 2020 826,654 1,823,454 2,650,108

The notes on pages 10 to 20 are an integral part of these

Notes 31-December-20 31-December-19

Net cash flows (used in) operating activities 2,032,155 224,725

Net cash flows from financing activities - -

Note 1 Reporting Entity

Save Generation Development Association is an indigenous non-governmental and non-profitable