This sample financial statement should only be used as a guide when preparing an annual financial statement for an incorporated society.
Income, expenses, assets and liabilities should be presented in categories that are appropriate to the society’s circumstances.
We recommend you review the rules of the society. Where the rules specify:
- a particular format of financial statement, for example compliance with GAAP, you must meet these requirements; or
- that an auditor must be appointed, the audit report must be attached to the financial statement.
This sample statement should not be used where the society has financial statement preparation and filing obligations under other legislation e.g. where the society is an issuer, FMC reporting entity, charity or industrial and provident society. In this case, we recommend you seek professional advice, as appropriate.
ABC Club Incorporated 123456 (society number)
Statement of income & expenditure for the year ended 31 March 2019*
| Income | 2019 $ |
2018 $ |
|---|---|---|
| Subscriptions |
x,xxx
|
x,xxx
|
| Advertising |
xxx
|
-
|
| Donations |
xxx
|
xxx
|
| Entry fees from annual show |
x,xxx
|
x,xxx
|
| General fundraising |
xxx
|
xxx
|
| Interest |
xx
|
xx
|
| Total income |
x,xxx
|
x,xxx
|
| Expenses | 2019 $ |
2018 $ |
|---|---|---|
| Administration costs |
xxx
|
xxx
|
| Bank fees |
xxx
|
xxx
|
| Cost of annual show |
x,xxx
|
x,xxx
|
| Instructor fee |
xxx
|
-
|
| Insurance |
xxx
|
xxx
|
| Postage |
xxx
|
xxx
|
| Printing |
xxx
|
xxx
|
| Rates |
xxx
|
xxx
|
| Total expenses |
x,xxx
|
x,xxx
|
| Net surplus/(loss) |
x,xxx
|
(xxx)
|
ABC Club Incorporated 123456 (society number)
Statement of financial position as at 31 March 2019
| Assets | 2019 $ |
2018 $ |
|---|---|---|
| Cash on hand |
x,xxx
|
x,xxx
|
| Bank accounts |
x,xxx
|
x,xxx
|
| Land and buildings |
xxx,xxx
|
xxx,xxx
|
| Sporting equipment |
xxx
|
xxx
|
| Clubroom equipment |
xx
|
xx
|
| Sundry equipment |
xx
|
xx
|
| Total assets |
xxx,xxx
|
xxx,xxx
|
| Liabilities | 2019 $ |
2018 $ |
|---|---|---|
| Accrued expenses |
-
|
xxx
|
| Creditors |
xx
|
xx
|
| Total liabilities |
xx
|
xx
|
| Net assets (liabilities) |
xxx,xxx
|
xxx,xxx
|
| Accumulated funds as at 31 March |
xxx,xxx
|
xxx,xxx
|
ABC Club Incorporated 123456 (society number)
Notes to financial statements as at 31 March 2019
Include details of all mortgages, charges, and securities of any description affecting any of the society’s property here. For example:
- The nature and amount of the borrowing that is secured; and
- The nature and amount of the resource(s) used as security.
* The financial statement includes the transactions and balances of the society for the financial year 1 April 2018 to 31 March 2019.
