PREPARATION OF

FINANCIAL
STATEMENTS
May 15, 2017
Before making your Financial Statements..
• Have a DAILY RECORD of your cash receipts and disbursements
Before making your Financial Statements..
• REMIND your co-officers to ask for an official receipt whenever they
purchase something for the use of the organization

‘YUNG RESIBOOO!!
Before making your Financial Statements..
• SECURE the supporting documents
AFFIDAVIT OF FUND
TRANSFER

9/30/2019
CONTENTS OF A FINANCIAL STATEMENT:
FACE
NOTES
DISCLOSURES
SUPPORTING DOCUMENTS
FACE OF THE FINANCIAL STATEMENT
FACE
 ORGANIZATION’S HEADER
 HEADING
 LINE ITEMS COLUMN
 NOTES COLUMN
 AMOUNTS COLUMN
FACE
 CASH FORWARDED FROM PREVIOUS
YEAR OR SEMESTER
 TOTAL WORKING FUNDS
 TOTAL EXPENSES
 NET WORKING FUNDS
FACE
 ENDING CASH BALANCE
 SIGNATURE OF (IN ORDER):
• FINANCE OFFICER

• AUDITOR

• PRESIDENT

• ADVISERS
NOTES TO FINANCIAL STATEMENTS
NOTES
NOTES to Financial Statements
are basically the BREAKDOWN
of expenses per activity that
are reported on the FACE of the
Financial Statements
NOTES
Fund raising activities
should be presented at
their NET AMOUNT

Receipts LESS
Disbursements = NET
CASH INFLOW

Examples of Fund Raising

Activities:
 Membership Fees
 T-Shirt Sales
NOTES
Common classification of
EXPENSES:
 Printing Expenses
 Professional Fees
 Foods & Drinks
 Transportation
 Supplies
DISCLOSURES
DISCLOSURES
DISCLOSURES are additional
information attached to an
organization’s financial
statements, usually as
explanation for activities
which have significantly
influenced the organization’s
financial results.
 SUPPORTING DOCUMENTS
Should have HEADING per
classification of expenses

VALID supporting documents:

 Official Receipts
 Sales Invoice

If neither OR nor SI is available:

 Petty Cash Vouchers
 Acknowledgement Slips
 OFFICIAL RECEIPT
MUST HAVE:
 Date
 Name of the organization
 Amount paid
 Goods or services purchased
 Authorized signature
 SALES INVOICE
MUST HAVE:
 Date
 Name of the organization
 Amount paid
 Goods or services purchased
 Authorized signature
 PETTY CASH VOUCHER
 PETTY CASH VOUCHER is issued when the
PAYEE, the one who receives the money, does
not really issue an official receipt or a sales
invoice.
 Used for expenses worth P300.00 and below.

MUST HAVE:
 Date
 Name of the Officer-In-Charge of the expense
 Amount paid
 Goods or services purchased
 Signature of Finance Officer
 Signature of Officer-In-Charge of the expense
 Payment receiver
 ACKNOWLEDGEMENT SLIPS
 Same function as a petty cash voucher, except that:
 It is used for expenses above P300.00.

MUST HAVE:
 Date
 Amount paid
 Goods or services purchased
 Signature of Finance Officer
 Name and signature of Payee
 Signature of President
 Signature of Advisers