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SHIRE OF BROOMEHILLTAMBELLUP MONTHLY FINANCIAL REPORT For the Period Ended 31 July 2018TABLE OF CONTENTS Statement of Financial Activity by Nature or Type by Reporting Program Balance Sheet Note 1×a)
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How to fill out statement of financial activity
How to fill out statement of financial activity
01
To fill out a statement of financial activity, follow these steps:
02
Gather all the necessary financial documents, including bank statements, invoices, receipts, and financial statements.
03
Start by entering the basic information of the organization, such as its name, address, and contact details.
04
Provide the reporting period for which the statement is being prepared, usually a specific month or year.
05
List all the income sources of the organization, including sales revenue, donations, grants, and investment income.
06
Break down the income sources by category and provide the corresponding amounts for each category.
07
Calculate the total income by adding up all the income categories.
08
Next, list all the expenses incurred by the organization, such as salaries, rent, utilities, supplies, and marketing expenses.
09
Break down the expenses by category and provide the corresponding amounts for each category.
10
Calculate the total expenses by adding up all the expense categories.
11
Calculate the net income or loss by subtracting the total expenses from the total income.
12
Include any additional information or notes that may be necessary to provide a comprehensive view of the organization's financial activity.
13
Review the statement for accuracy and make any necessary adjustments before finalizing it.
14
Sign and date the statement to authenticate it.
15
Keep a copy of the completed statement for future reference and compliance purposes.
Who needs statement of financial activity?
01
The statement of financial activity is needed by various individuals and organizations, including:
02
- Non-profit organizations to track and report their income and expenses for transparency and accountability.
03
- Businesses to monitor their financial performance and make informed decisions.
04
- Financial institutions and investors to assess the financial health and stability of an organization before providing funds or making investment decisions.
05
- Government agencies and regulatory bodies to ensure compliance with financial regulations and taxation requirements.
06
- Auditors and accountants to conduct audits and prepare financial statements.
07
- Donors and grant providers to evaluate the financial viability and impact of the organization before providing funding.
08
- Internal stakeholders, such as board members and executive teams, to review and analyze the financial position of the organization.
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What is statement of financial activity?
Statement of financial activity is a document that shows an organization's financial performance over a specific period of time.
Who is required to file statement of financial activity?
Non-profit organizations are usually required to file statement of financial activity to report their financial transactions and activities.
How to fill out statement of financial activity?
To fill out a statement of financial activity, one must record all financial transactions, categorize them into income and expenses, and calculate the net financial position.
What is the purpose of statement of financial activity?
The purpose of statement of financial activity is to provide stakeholders with an overview of the organization's financial performance and to ensure transparency in financial reporting.
What information must be reported on statement of financial activity?
Information such as revenue, expenses, assets, liabilities, and net income must be reported on a statement of financial activity.
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