Accounting Study Guide Sample accounts

SAMPLE ACCOUNTS

1: Sample Balance Sheet

ABC Credit Programme

BALANCE SHEET
As at December 31, 1995
ASSETS LIABILITY AND EQUITY

LIABILITIES
Cash & Bank Current Accounts 5,000
Interest Bearing Deposits 8,000 Short-term Borrowings (commercial rate) 18,000
13,000 Client Savings 0
Loans Outstanding:
Current 66,000 Total Current Liabilities 18,000
Past-Due 17,000
Restructured 1,000
Loans Outstanding (Gross) 84,000 Long-term Debt (commercial rate) 12,000
(Loan Loss Reserve) (7,000) Long-term Debt (concessionary rate) 35,000
Net Loans Outstanding 77,000 Restricted/Deferred Revenue 0
Other Current Assets 500
Total Current Assets 90,500 TOTAL LIABILITIES 65,000
Long-term Investments 12,500
Property and Equipment: EQUITY
Cost 4,000 Loan Fund Capital 40,100
(Accumulated Depreciation) (700) Retained Net Surplus/(Deficit) prior years 200
Net Property and Equipment 3,300 Net Surplus/(Deficit) current year 1,000
Total Long-term Assets 15,800 TOTAL EQUITY 41,300

TOTAL ASSETS 106,300 TOTAL LIABILITIES AND EQUITY 106,300

Source: SEEP Financial Services Working Group

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2: Sample Balance Sheet (Comparative)

ABC Credit Programme

BALANCE SHEET
as at December 31, 1995
Dec. 31, 1995 Dec. 31, 1994 % Change
ASSETS
Cash & Bank Current Accounts 5,000 2,500 + 100%
Interest-bearing Deposits 8,000 7,000 + 14%
Loans Outstanding:
Current 66,000 50,000 + 32%
Past-Due 17,000 19,500 – 13%
Restructured 1,000 500 +100%
Loans Outstanding (Gross) 84,000 70,000 + 20%
(Loan Loss Reserve) (7,000) (5,000) + 40%
Net Loans Outstanding 77,000 65,000 + 19%
Other Current Assets 500 1,000 – 50%
TOTAL CURRENT ASSETS 90,500 75,500 + 20%
Long-term Investments 12,500 11,000 + 14%
Property and Equipment:
Cost 4,000 4,000 0%
(Accumulated Depreciation) (700) (300) + 133%
Net Property and Equipment 3,300 3,700 – 11%
TOTAL LONG-TERM ASSETS 15,800 14,700 + 8%

TOTAL ASSETS 106,300 90,200 + 18%

LIABILITIES
Short-term borrowings (commercial rate) 18,000 12,000 + 50%
Client Savings 0 0 --
TOTAL CURRENT LIABILITIES 18,000 12,000 + 50%
Long-term debt (commercial rate) 12,000 15,000 – 20%
Long-term debt (concessional rate) 35,000 30,000 +17%
Restricted/Deferred Revenue 0 0 --
TOTAL LIABILITIES 65,000 57,000 14%
EQUITY
Loan Fund Capital 40,100 33,000 +22%
Retained Net Surplus/(Deficit) prior years 200 0 --
Net Surplus/(Deficit) current year 1,000 200 + 400%
TOTAL EQUITY 41,300 33,200 + 24%

TOTAL LIABILITIES AND EQUITY 106,300 90,200 + 18%

Source: SEEP Financial Services Working Group

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3: Sample Income Statement

ABC Credit Programme

STATEMENT OF INCOME AND EXPENDITURE
For the period ended December 31, 1995
FINANCIAL INCOME:
Interest on Current & Past Due Loans 15,400
Interest on Restructured Loans 100
Interest on Investments 500
Loan Fees/Service Charges 5,300
Late fees on Loans 200
Total Financial Income 21,500
FINANCIAL COSTS:
Interest on Debt 3,700
Interest paid on Deposits 0
Total Financial Costs 3,700
GROSS FINANCIAL MARGIN 17,800
Provision for Loan Losses 2,500
NET FINANCIAL MARGIN 15,300
Operating Expenses
Salaries and benefits 6,000
Administrative expenses 2,600
Occupancy expense 2,500
Travel 2,500
Depreciation 400
Other 300
Total Operating Expenses 14,300
NET INCOME FROM OPERATIONS 1,000
Grant Revenue for Operations 0
Excess Of Income Over Expenses 1,000
Source: SEEP Financial Services Working Group

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4: Sample Income Statement (Comparative)

ABC Credit Programme

STATEMENT OF INCOME AND EXPENDITURE
For the period ended December 31, 1995
1995 1994 % Change
FINANCIAL INCOME:
Interest on Current & Past Due Loans 15,400 12,000 + 28%
Interest on Restructured Loans 100 50 +100%
Interest on Investments 500 1,500 - 67%
Loan Fees/Service Charges 5,300 5,000 + 6%
Late fees on Loans 200 300 – 33%
Total Financial Income 21,500 18,850 + 14%
FINANCIAL COSTS:
Interest on Debt 3,700 3,500 + 6%
Interest paid on Deposits 0 0 0%
Total Financial Costs 3,700 3,500 + 6%

GROSS FINANCIAL MARGIN 17,800 15,350 + 16%

Provision for Loan Losses 2,500 3,000 – 17%
NET FINANCIAL MARGIN 15,300 12,350 + 24%
Operating Expenses
Salaries and Benefits 6,000 5,000 + 20%
Administrative expenses 2,600 2,500 + 4%
Occupancy expense 2,500 2,500 0%
Travel 2,500 2,500 0%
Depreciation 400 300 + 33%
Other 300 300 0%
Total Operating Expenses 14,300 13,100 + 9%
NET INCOME FROM OPERATIONS 1,000 (750) + 233%
Income from Grants for Credit Services 0 950 – 100%
Excess Of Income Over Expenses 1,000 200 + 400%
Source: SEEP Financial Services Working Group

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5: Sample Statement of Changes in Financial Position

ABC Credit Programme

STATEMENT OF CHANGES IN FINANCIAL POSITION
As at December 31, 1995

Sources of Funds:
Excess of Revenue over Expenses 1,000
Depreciation 400
Provision for Loan Losses 2,500
Increase in Borrowed Funds 11,000
Increase in Loan Fund Capital 7,100
Decrease in Other Assets 500
______
Total Sources of Funds 22,500

Uses of Funds:
Increase in Loans Outstanding 14,000
Increase in Investments 2,500
Decrease in Borrwoed Funds 3,000
Loan Write-Offs 500
______
Total Uses of Funds 20,000

Net Cash Flow, for the period 2,500

Cash, beginning of period 2,500
Cash, end of period 5,000

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