Statement of Advance, Revenue and Security Deposit

Subject: Accountancy

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Overview

The monthly statement which discloses the information of unclear advance is called statement of outstanding advance. It is known as AGF No. 14, which shows the detail information of advance like date of advance given, name of the person or party receiving the advance, the amount of advance, objectives of advance, reasons for not clearance of advance etc. This note has information abut statement of outstanding advance, statement of government revenue and statement of security deposit.
Statement of Advance, Revenue and Security Deposit

Statement of Outstanding Advance (AGF no. 14)

The monthly statement which discloses the information of unclear advance is called statement of outstanding advance. It provides information about an unclear amount of advance, the name of the party receiving advance and reasons for unclearing advance. It is prepared and submitted to the Central Level Offices along with Expenditure Statement. This statement of expenditure shows the actual financial position of the office. It is known as AGF No. 14, which shows the detail information of advance like date of advance given, name of the person or party receiving the advance, the amount of advance, objectives of advance, reasons for not clearance of advance etc.

Objectives of Statement of Outstanding Advance

The following are the main objectives of Statement of Outstanding Advance:

  1. To report regarding the parties and their uncleared amount of advance on a given date.
  2. To report the reasons of not clearing the advance.
  3. To keep effective control on advance transactions.
  4. To give moral pressure to clear the amount of advance in time.

Ruling or Specimen of Statement of Outstanding Advance

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The specimen of statement of outstanding advance is as follows: -

Specimen of Statement of Outstanding Advance
Specimen of Statement of Outstanding Advance

Statement of Government Revenue (AGF no. 9)

Some operating level offices are involved in the collection of government revenue such as Tax Office, Customs Office, VAT Office etc. These offices prepare and submit the statement of total collection of revenue during the month to the central level offices which are known as Statement of Revenue. It is the statement prepared by government offices, which records the revenues collected from different sources. It gives the details of revenue amount collected by the concerned office under different heads & subheads. This statement of revenue shows the total collection of government revenue during the current month. It is known as AGF No. 9.

Ruling or Specimen of Statement of Government Revenue

The specimen of statement of government revenue is as follows: -

Specimen of Statement of Government Revenue
Specimen of Statement of Government Revenue

Statement of Security Deposit (AGF no. 19)

It is also one of the forms of the monthly statement designed to submit the statement to the Office of Treasury and Comptroller about the security deposit taken from and refunded to the contractors who are involved in development work under government investment. The statement of the security deposit is a statement to be prepared by the government office to disclose the information about receipt of security deposit & other details. It provides the information about the security deposit of a particular month as well as the net amount of security deposit.This statement of expenditure shows the actual position of the security deposits of different contractors. It is known as AGF No. 19, which shows detail information of total security deposit amount up to the previous month, security deposit received during the current month, total amount refunded to the contractors and the balance of security deposit amount.

Ruling or Specimen of Statement ofSecurity Deposit

The specimen of statement of security deposit is as follows: -

Specimen of Statement of Security Deposit
Specimen of Statement of Security Deposit
Things to remember
  • The monthly statement which discloses the information of unclear advance is called statement of outstanding advance.
  • It includes every relationship which established among the people.
  • There can be more than one community in a society. Community smaller than society.
  • It is a network of social relationships which cannot see or touched.
  • common interests and common objectives are not necessary for society.
Questions and Answers

The monthly statement which discloses the information of unclear advance is called statement of outstanding advance.

The monthly statement which discloses the information of unclear advance is called statement of outstanding advance. It provides information about an unclear amount of advance, the name of party receiving advance and reasons for unclearing advance. It is prepared and submitted to the Central Level Offices along with Expenditure Statement. This statement of expenditure shows the actual financial position of the office. It is known as AGF No. 14, which shows the detail information of advance like date of advance given, name of the person or party receiving the advance, the amount of advance, objectives of advance, reasons for not clearance of advance etc.

The following are the main objectives of Statement of Outstanding Advance:

  1. To report regarding the parties and their uncleared amount of advance on a given date.
  2. To report the reasons of not clearing the advance.
  3. To keep effective control on advance transactions.
  4. To give moral pressure to clear the amount of advance in time.

Some operating level offices are involved in collection of government revenue such as Tax Office, Custom Office, VAT Office etc. These offices prepare and submit the statement of total collection of revenue during the month to the central level offices which are known as Statement of Revenue. It is the statement prepared by government offices, which records the revenues collected from different sources. It gives the details of revenue amount collected by the concerned office under different heads & subheads.This statement of revenue shows the total collection of government revenue during the current month. It is known as AGF No. 9.

Statement of Security Deposit is also one of the form of the monthly statement designed to submit the statement to the Office of Treasury and Comptroller about the security deposit taken from and refunded to the contractors who are involved in development work under government investment. The statement of security deposit is a statement to be prepared by government office to disclose the information about receipt of security deposit & other details. It provides the information about the security deposit of a particular month as well as the net amount of security deposit.This statement of expenditure shows the actual position of the security deposits of different contractors. It is known as AGF No. 19, which shows detail information of total security deposit amount up to the previous month, security deposit received during the current month, total amount refunded to the contractors and the balance of security deposit amount.

Statement of security depositis is also one of the form of the monthly statement designed to submit the statement to the Office of Treasury and Comptroller about the security deposit taken from and refunded to the contractors who are involved in development work under government investment.

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