Difference between revisions of "Financial Management"
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=Account Closing= | =Account Closing= | ||
| + | Closing account process will take place every 15th January in the following year. | ||
| + | |||
| + | The following Financial Statement will be printed from eFAS system: | ||
| + | # Balance Sheet | ||
| + | # Profit & Loss Statement | ||
| + | # Trial Balance | ||
| + | # Fixed Asset Movement Report. | ||
| + | |||
| + | =Preparation of Unaudited Financial Statement= | ||
| + | The complete Financial Statement are as follows: | ||
| + | # ''Penyata Kedudukan Kewangan'' | ||
| + | # ''Penyata Pendapatan Komprehensif'' | ||
| + | # ''Penyata Perubahan Ekuiti'' | ||
| + | # ''Penyata Aliran Tunai'' | ||
| + | |||
| + | =Presentation of Unaudited Financial Statement= | ||
| + | The Financial Statement will be presented by Sector Head of Corporate Management in the first Board of Management Meeting during the year. | ||
| + | |||
| + | The Board of Management Meeting will endorsed the Financial Statement. | ||
| + | |||
| + | =Declaration of Unaudited Financial Statement= | ||
| + | Accountant shall prepare twelve (12) copies of Unaudited Financial Statements. | ||
| + | |||
| + | CEO shall declared the Unaudited Financial Statements in front of the Commissioner of Oaths and the Financial Statements shall be signed by Chairman with one of the Board member. | ||
| + | |||
| + | =Submission of Unaudited Financial Statement= | ||
| + | All twelve (12) copies of the complete Financial Statements shall be submitted to JAN, Negeri Sarawak before 30th April every year. | ||
| + | |||
| + | If the Unaudited Financial Statements is fail to be submitted to JAN before or on the 30th April, Accountant shall write and submit a paper to ''Majlis Mesyuarat Kerajaan Negeri (MMKN)'' seeking for approval from MMKN for extension of time. | ||
| + | Refer to '''The Statutory Bodies (Financial and Accounting Procedure) Ordinance 1995'''. | ||
| + | |||
| + | After submission, the audit field work will be carried out by the external auditor. | ||
| + | |||
| + | JAN will issue certificate for the Audited Financial Statement. | ||
| + | |||
| + | =Presentation of Audited Financial Statement= | ||
| + | Sector Head of Corporate Management shall present the Audited Financial Statement in the Board of Management Meeting for endorsement. | ||
| + | |||
| + | Accountant shall prepare a copy of Audited Financial Statement for Sarawak Multimedia Authority (SMA) and Perpustakaan Negara Malaysia (PNM). | ||
| + | |||
| + | =Submission of Audited Financial Statement= | ||
| + | Accountant shall prepare 30 copies of Audited Financial Statements and submit to MMKN for approval. | ||
| + | |||
| + | 100 copies of Audited Financial Statements will be prepared by Accountant and to be submitted for presentation in Dewan Undangan Negeri (DUN). | ||
Latest revision as of 07:43, 21 June 2021
It is a process of preparation of the Financial Management to be audited by Jabatan Audit Negara (JAN). This process involving closing of account, preparation of account, presentation, declaration, submission and approval.
Contents
Account Closing
Closing account process will take place every 15th January in the following year.
The following Financial Statement will be printed from eFAS system:
- Balance Sheet
- Profit & Loss Statement
- Trial Balance
- Fixed Asset Movement Report.
Preparation of Unaudited Financial Statement
The complete Financial Statement are as follows:
- Penyata Kedudukan Kewangan
- Penyata Pendapatan Komprehensif
- Penyata Perubahan Ekuiti
- Penyata Aliran Tunai
Presentation of Unaudited Financial Statement
The Financial Statement will be presented by Sector Head of Corporate Management in the first Board of Management Meeting during the year.
The Board of Management Meeting will endorsed the Financial Statement.
Declaration of Unaudited Financial Statement
Accountant shall prepare twelve (12) copies of Unaudited Financial Statements.
CEO shall declared the Unaudited Financial Statements in front of the Commissioner of Oaths and the Financial Statements shall be signed by Chairman with one of the Board member.
Submission of Unaudited Financial Statement
All twelve (12) copies of the complete Financial Statements shall be submitted to JAN, Negeri Sarawak before 30th April every year.
If the Unaudited Financial Statements is fail to be submitted to JAN before or on the 30th April, Accountant shall write and submit a paper to Majlis Mesyuarat Kerajaan Negeri (MMKN) seeking for approval from MMKN for extension of time. Refer to The Statutory Bodies (Financial and Accounting Procedure) Ordinance 1995.
After submission, the audit field work will be carried out by the external auditor.
JAN will issue certificate for the Audited Financial Statement.
Presentation of Audited Financial Statement
Sector Head of Corporate Management shall present the Audited Financial Statement in the Board of Management Meeting for endorsement.
Accountant shall prepare a copy of Audited Financial Statement for Sarawak Multimedia Authority (SMA) and Perpustakaan Negara Malaysia (PNM).
Submission of Audited Financial Statement
Accountant shall prepare 30 copies of Audited Financial Statements and submit to MMKN for approval.
100 copies of Audited Financial Statements will be prepared by Accountant and to be submitted for presentation in Dewan Undangan Negeri (DUN).
