consolidated fund (1)
TRANSCRIPT
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CHAPTER 8
CONSOLIDATEDFUND
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LEARNING OBJECTIVE
Defne und accounting
Determine the objectives o und accounting
Identiy the characteristics o und accounting
Discuss the reguatory rame!or" andreationshi# bet!een three ty#es o
Consoidated $und Describe the three ty#es o Consoidated $und%
namey& Consoidated Revenue Account%Consoidated Trust Account and Consoidated'oan Account
LO 3
Apply the concepts and ss!es "ele#ant to p!$lc
secto" acco!ntn% and "epo"tn%&
LEARNING OUTCO'ES
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(hat s )!nd acco!ntn%*
INTRODUCTION
The accounting or each und #roduces its o!no#erating statement and baance sheet(
Jones and Pendlebury (2010)
A fsca and accounting entity !ith a sel)+$alancn% set o)acco!nts recording cash and other fnancia resources
together !ith a reated iabiities and residua e)uities orbaances and changes therein !hich are se%"e%atedor
the #ur#ose o carrying on spec,c act#tes or attainingcertain o$-ect#esin accordance !ith specal
"e%!latons. "est"ctons o" l/tatons(
US National Council Governmental Accounting Statement No 1 (1!!")
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INTRODUCTION
(hat a"e the o$-ect#es o) )!ndacco!ntn%*
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INTRODUCTION
(hat a"e the cha"acte"stcs o) )!ndacco!ntn%*
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REGULATOR0 FRA'E(OR1OF CONSOLIDATED FUND
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A ty#es o money or revenue received e*ce#t or oansand trusts are to be accounted or in the ConsoidatedRevenue Account + ,ection -.a/ o the $inancia Procedure
Act 012-3( 4sed to maintain o#erating e*#enditures(
CONSOLIDATED REVENUEACCOUNT
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CONSOLIDATED REVENUEACCOUNT
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CONSOLIDATED TRUSTACCOUNT
Estabished to account or a recei#ts and #aymentsto trust unds and monies received by governmentor s#ecifc #ur#oses +,ection -.c/ o the $PA 012-3(
5A, 6o( 7 Consoidated Trust Account
Com#rise o
5overnment Trust $unds
Pubic Trust $unds
De#osits
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CONSOLIDATED LOANACCOUNT
,ec - .b/ o $PA 012- a moniesreceived by !ay o oan sha be "e#t inthe Consoidated 'oan account(
The oan amount is transerred into theDeveo#ment $und% Housing 'oan $undor other und authorised by Pariament%
de#ends on #ur#ose oan !as raised(5A, 2 o PP9 Consoidated 'oan
account issued on Dec :;;7 ande
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>ain sources rom domestic borro!ing .oca ban"and fnancia institutions/ and e*terna borro!ings.?ord @an" and I>$/
Art 000 o $ed Const ega rame!or" or
government to underta"e domestic and e*ternaborro!ings(
Pariament has #assed 1 a!s authorie governmentto raise oan Domestic 'oans .Interna @an"Brdinance 0128% 'oans 'oca Brdinance 0121%Treasury @is 'oca Act 01=7 and 5overnmentInvestment Act 018
E*terna 'oan Act 01= .E*tended Credit Act 01==%Deveo#ment $und Act 01==% 'oans .Asian Dev @an"/Act 01=8 and 'oans .Isamic Dev @an"/ Act 01--
CONSOLIDATED LOANACCOUNT
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CONSOLIDATED LOANACCOUNT
CONSOLIDATED LOAN
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'alaysan Go#e"n/ent Sec!"tes@onds issued on ong term basis to
fnance $edera 5overnment E*#enditure
Registered stoc"s avaiabe to the mar"etby tender and managed by @an" 6egara
>ajor subscribers Petronas% EP$% @,6
T"eas!"y Blls
,hort term oan issued #eriodicay tofnance the redem#tion cost o maturedbis
>ajor subscribers commercia ban"s and
discount houses
CONSOLIDATED LOANACCOUNT
CONSOLIDATED LOAN
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Go#e"n/ent In#est/ent Iss!es
Issued based on Isamic #rinci#es to
com#ement measures in controinge*cess i)uidity in the fnancia system
>ajor subscribers @an" Isam and other
interest ree fnancia institutionS!2!2
Isamic e)uivaent bonds
CONSOLIDATED LOANACCOUNT
CONSOLIDATED LOAN
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External
Borrowing
CONSOLIDATED LOANACCOUNT
CONSOLIDATED LOAN
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'oans obtained !ith imits o borro!ing basedon E*terna 'oan Act 01=% the ceiing under theAct is R>; biion
'a"2et Loans'oans obtained rom internationa fnancia
institution% !hich negotiated at common mar"etrates raised or genera #ur#ose
,yndicated 'oan grou# o ban"s that #rovideoans and the interest #ayabe based on theoating rate basis o 'I@BR% FE6 or ,?I,,$RA6C
CONSOLIDATED LOANACCOUNT
CONSOLIDATED LOAN
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@ond Issues 'oan rom the government in To"yo%$rn"urt% Amsterdam and Gurich
$oating Rate 6otes e*terna oans !here theinterest #ayabe is based on $oating Rate and has
a maturity #eriod bet!een 0; and ; years"o-ect Loans
@orro!ings in terms o money% services andtechnica studies% !hich are secured or s#ecifc
deveo#ment #rojects
Bbtained rom mutiatera .?ord @an"% Asia Dev@an"% Integrated Dev @an"% and biatera .govt togovt basis >sia and a#an(
CONSOLIDATED LOANACCOUNT
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