Note on Monthly Statement

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Example of Monthly Statement
Example of Monthly Statement

Monthly statements are the major financial statements to be prepared by the operating level offices at the end of every month and submitted to central level offices. These statements are prepared to disclose the budget expenditure, the status of fund, advance transactions and monthly revenue etc. It is prepared by Operating Level Offices to give the financial information to the concerned Central Level Office and the Finance Comptroller General Office. It is a financial report to prepared compulsory under the government accounting system and financial rules and regulations in duet format and time. It is prepared at the end of each month. These monthly statements help for controlling financial activities and maintaining strong financial discipline in the government offices. The monthly statements include a statement of expenditure, statement of outstanding advance, bank reconciliation statement etc.

Objectives of Monthly Statement

The main objectives of monthly statement are as follows:

  1. To provide financial data and information on the budget release, budget expenditure, outstanding advance and fund position.
  2. To facilitate in proper control and supervision over budget.
  3. To help to internal and statutory auditors to prepare their audit reports.
  4. To estimate the budget for future.
  5. To evaluate the efficiency of operating level office.

Importance and Advantages of Monthly Statements

The importance and advantages of monthly statement are as follows:

  1. Source of financial information
    The monthly statement provides various financial data & information for different purposes. It discloses the information about the budget release, budget expenditure, outstanding advance, fund position, etc. Thus, it helps for the preparation of various financial statements & reports.

  2. Evaluation of government activities
    The government launches various plans & projects in a different period of time. A monthly statement discloses the various information and helps to evaluate the performance, past progress and weakness of government offices & projects.

  3. Controlling over budget
    The main objective of government accounting is to maintain the effective control over the budget. Monthly statements supply the required financial information for controlling over budget. It does not allow going beyond the limitation of the budget. Thus, the financial activities can be controlled with the help of monthly statements.

  4. Acts as an administrative tool
    Monthly statements supply the necessary data & information for planning, policy-making, decision-making & other purposes. It also supports to forecast the budget for coming year. It supplies the reliable information for the release of the budget.

  5. Help to make auditing easier
    The monthly statement stands as the basic document for an auditor to check the amount of appropriation, expenditure and surplus budget. Thus, it helps to make internal and financial auditing easier.

Types of Monthly Statement

The main types of monthly statements to be prepared by operating level offices are:

  1. Statement of Expenditure (AGF No. 13)
  2. Statement of Outstanding Advance (AGF No. 14)
  3. Bank Reconciliation Statement (AGF No. 15)
  4. Statement of Government Revenue (AGF No. 9)
  5. Monthly Statement of Security Deposit (AGF No. 19)

  • Monthly statements are the major financial statements to be prepared by the operating level offices at the end of every month and submitted to central level offices. 
  • The monthly statements include statement of expenditure, statement of outstanding advance, bank reconciliation statement etc.
  • Monthly statements supply the necessary data & information for planning, policy-making, decision-making & other purposes.
  • The monthly statement stands as the basic document for an auditor to check the amount of appropriation, expenditure and surplus budget. 
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Very Short Questions

Monthly statements refers to those financial statements, which are prepared by the operating level offices on monthly basis to report its financial activities to the district treasury and comptroller office as well as central level offices.

The main objectives of monthly statement are as follows:

  1. To help to receive release order from the district treasury and comptroller office in time.
  2. To help to keep effective control on budget expenditures of each operating level offices.
  3. To help to evaluate the expenditures, performance, progress, achievement and weaknesses of the government offices and projects.
  4. To help in preparing internal and final auditing easier and economical through the supply of required financial data and information.
  5. To help for estimating budget and making financial decisions.

The following are the main importance of monthly statement:

  1. Source of financial information
    The monthly statement provides various financial data & information for different purposes. It discloses the information about the budget release, budget expenditure, outstanding advance, fund position, etc. Thus, it helps for the preparation of various financial statements & reports.

  2. Evaluation of government activities
    The government launches various plans & projects in a different period of time. A monthly statement discloses the various information and helps to evaluate the performance, past progress and weakness of government offices & projects.

  3. Controlling over budget
    The main objective of government accounting is to maintain the effective control over the budget. Monthly statements supply the required financial information for controlling over budget. It does not allow going beyond the limitation of the budget. Thus, the financial activities can be controlled with the help of monthly statements.

  4. Acts as an administrative tool
    Monthly statements supply the necessary data & information for planning, policy-making, decision-making & other purposes. It also supports to forecast the budget for coming year. It supplies the reliable information for the release of the budget.

  5. Help to make auditing easier
    The monthly statement stands as the basic document for an auditor to check the amount of appropriation, expenditure and surplus budget. Thus, it helps to make internal and financial auditing easier.

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  • Which one them is the objective of monthly statement?

    To help to keep effective control on budget expenditures of each operating level offices.


    To help to evaluate the expenditures, performance, progress, achievement and weaknesses of the government offices and projects.


    All the options are correct.


    To help for estimating budget and making financial decisions.


  • Monthly statements are prepared by the operating level offices at the ______.

    end of every month


    beginning of every month


    end of every week


    end of every year


  • Monthly statements are prepared to ______.

    disclose the budget expenditure


    disclose the status of fund


    all the options are correct


    disclose advance transactions


  • The monthly statement does not include ______.

    bank reconciliation statement


    statement of outstanding advance


    final accounts


    statement of expenditure


  • What is the AGF No. of Monthly Statement?

    13


    9


    14


    19


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