NGO Balance Sheet
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Auriga Accounting has a team of balance sheet experts who can provide complete guidance of your NGO Balance Sheet.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for Balance Sheet
Your Ready NGO Balance sheet
Auriga Accounting has a team of balance sheet who can provide complete guidance to NGO Balance Sheet.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for balance sheet
Your Ready NGO Balance Sheet
The Balance Sheet of an organisation is a statement showing its financial position on a particular date. The Balance Sheet prepared by Not-for-Profit organisations is like a business firm. The Balance Sheet shows the value of assets, liabilities, and capital funds at the end of the accounting year of the organisation on a particular date. It is prepared at the end of the accounting year after preparing the Income and Expenditure Account.
The Balance Sheet of an organisation is a statement showing its financial position on a particular date. The Balance Sheet prepared by Not-for-Profit organisations is like a business firm. The Balance Sheet shows the value of assets, liabilities, and capital funds at the end of the accounting year of the organisation on a particular date. It is prepared at the end of the accounting year after preparing the Income and Expenditure Account.
Then, you also need a good guide to perform all types of work. Auriga Accounting Private Limited do you best services in India, Delhi, Malviya Nagar, and Saket with full guidance and told Advantages about NGO Balance Sheet.
Step 1: When the opening balance of the Capital Fund is not given, it is arrived at by preparing the Opening Balance Sheet. Opening Capital Fund is an excess of assets over the liabilities in the beginning. The surplus/deficit ascertained from Income & Expenditure A/c is added/deducted.
Step 2: The net amount of the liabilities is shown on the liabilities side of the Balance Sheet. Liabilities already appearing in the previous year’s Balance Sheet should be seen as to whether any payment has been made against them.
Step 3: Assets appearing in the previous year’s Balance Sheet are adjusted for any sale, purchase during the year, and depreciation. If any part of the asset is sold, then the book value of an asset is deducted from the concerned asset. The difference between the book value and the actual sale proceeds is treated as profit or loss, which is shown in the Income & Expenditure A/c. On purchase of the new asset, the payment is shown on the payment side of the Receipts and Payment A/c.
Step 4: The adjusted value of the advance given is shown on the assets side of the Balance Sheet.
Step 5: The adjusted value of the expenses made in Income & Expenditure A/c will also appear on the Balance Sheet, i.e., Outstanding Expenses will appear on the liability side and Prepaid Expenses will appear on the assets side of the Balance Sheet.
Auriga Accounting can assist in preparing a balance sheet through its systematic approach to financial management, which involves accurate bookkeeping, compliance, and reporting. Here’s how:
Adjustments: Any necessary adjustments (e.g., for accrued expenses, depreciation, or inventory valuation) are made to ensure the financial data is accurate.
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