Page 18 - OSEP Management Module 4_Neat

Annual reports
At the end of the financial year, the treasurer will need to prepare a set of accounts
to be presented to the members at an annual general meeting.

Simple annual accounts can be produced from your cash records. There will be 2
types of accounts necessary:
1. a statement of income and expenditure that gives the receipts and payments,
together with the annual totals from the previous year, if available (see the
example annual profit and loss statement in Appendix 5).
2. a statement of assets and liabilities that lists the value of the assets owned
by the club/federation and the amount of liabilities owed by the club. This
account also includes the previous year’s figures (see the example simple
statement of assets and liabilities in Appendix 6).

Activity 4.13

• Look at the annual profit and loss statement example in Appendix 5 and the
statement of assets and liabilities example in Appendix 6.
• Does your club/federation present the annual statement of income and
expenditure and assets/liabilities reports at the annual general meeting each
year? Are there any other financial reports presented?

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