Your Accountant -ZM

Never invest in a business whose financial statements you have not reviewed. Never lend money to an individual whose source of income is unknown.

For those who didn’t know. 15% of the money donated to Public Benefit Organization PBO such as tithe is refundable to the donor by ZRA

Assets and liabilities, and income and expenses, may not be offset unless required or permitted by an IFRS. [18.44]

Let’s kick off the New Year with optimism, positivity, and well-wishes for our friends and family.
Make every effort to please God this year

Professional Behavior.
A professional accountant should comply with the relevant laws and regulations and should avoid any action that discredits the profession.

In a professional setting, it's often advisable to address grievances verbally before resorting to written communication, unless the issue is critical and requires formal documentation.

Even if it has the potential to financially benefit you. Try to be ethical

ON JOURNAL ATTACHMENTS

In most fund accounting transactions there is usually an operating fund and plant fund. Daily operations are done in operation fund while capital expenditures are done through the plant fund.
Cash is usually transacted in an operation fund so to purchase a non current asset we transfer funds from operations to plant fund.

Four transaction happen:
Dr transfer between funds ie operation to plant
Cr Bank
Dr Asset
Cr transfer between funds. The transfer between funds balance Zeroes out.

Because of auditors we make a lot of attachment. Auditors want to prove that the asset belongs to the organisation. It's classified correctly as an asset not an expense. The value posted is correct. There is authorization to the transaction.
So the four lines will have a lot of documentation.

In another words every transaction should have enough documentation which will help the financial statements be prepared in a way that they gives a true and fair view.

What Is Integrity?
Integrity refers to strict adherence to a moral and ethical code of conduct that reflects transparency and honesty. A person with integrity follows rules and seeks to uphold the truth. People with high integrity can be counted on to consistently do the right thing, even when no one is watching. In the context of data, integrity refers to information that is accurate, complete and consistent. Data integrity is the assurance that digital information is uncorrupted and dependable, so businesses can rely on the data to help inform key decision-making.

Your Accountant -ZM Chartered Accountant Hub

When an opportunity presents itself, there is only one option of what to do with it. Take it. If you connect to the idea and strongly believe in it, then pursuing it is the best thing you can do

thank you 😊