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    Fund and Other Investment

    Uploaded by

    Allen Lacap Medina
    This document discusses various types of funds including cash funds, long term investments funds, sinking funds, insurance funds, and other funds. Cash funds include petty cash, payroll, dividend, travel, interest, change, and tax funds which are considered current assets. Long term investment funds are investments held for more than one year which are non-current assets. Sinking funds are set aside for the liquidation of long term debt and are classified similarly to the related liability. Insurance funds are used to meet obligations from risks and fortuitous events. Other funds discussed include preference share redemption funds, funds for acquisition of property, and contingency funds.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Fund and Other Investment

    Uploaded by

    Allen Lacap Medina
    55 views1 page
    This document discusses various types of funds including cash funds, long term investments funds, sinking funds, insurance funds, and other funds. Cash funds include petty cash, payroll, dividend, travel, interest, change, and tax funds which are considered current assets. Long term investment funds are investments held for more than one year which are non-current assets. Sinking funds are set aside for the liquidation of long term debt and are classified similarly to the related liability. Insurance funds are used to meet obligations from risks and fortuitous events. Other funds discussed include preference share redemption funds, funds for acquisition of property, and contingency funds.

    Original Description:

    Fund and Other Investment

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    This document discusses various types of funds including cash funds, long term investments funds, sinking funds, insurance funds, and other funds. Cash funds include petty cash, payroll, dividend, travel, interest, change, and tax funds which are considered current assets. Long term investment funds are investments held for more than one year which are non-current assets. Sinking funds are set aside for the liquidation of long term debt and are classified similarly to the related liability. Insurance funds are used to meet obligations from risks and fortuitous events. Other funds discussed include preference share redemption funds, funds for acquisition of property, and contingency funds.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    55 views1 page

    Fund and Other Investment

    Uploaded by

    Allen Lacap Medina
    This document discusses various types of funds including cash funds, long term investments funds, sinking funds, insurance funds, and other funds. Cash funds include petty cash, payroll, dividend, travel, interest, change, and tax funds which are considered current assets. Long term investment funds are investments held for more than one year which are non-current assets. Sinking funds are set aside for the liquidation of long term debt and are classified similarly to the related liability. Insurance funds are used to meet obligations from risks and fortuitous events. Other funds discussed include preference share redemption funds, funds for acquisition of property, and contingency funds.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 1

    ITEM Cash LTI

    REMARKS
    1 Cash fund set aside for current purposes /
    Current Assets
    a) petty cash fund
    b) payroll fund
    c) dividend fund
    d) travel fund
    e) interest fund
    f) change fund
    g) tax fund
    2 Investments

    Short term highly liquid investments /
    Current Assets
    ore than three months but !ithin one year
    ore than one year
    "ong term investments
    #$ Cash fund set aside for non%current or payment
    of non%current obligation &parallel to related liability) /
    "ong term investments &non '
    current assets)

    a) Sin(ing fund
    b) )reference share redemption fund
    c) contingent fund
    d) insurance fund
    e) fund for acquisition/construction of ))*
    +$ )reference shares !ith specified redemption date

    acquired three months before redemption /

    acquired more than three months before redemption
    Current Asset if !/in 1 year
    A$ *AS,-**./
    a$ Short /erm 0und ' usually are considered as Cash
    and Cash *quivalents
    b$ "ong /erm 0und ' carried at the amount plus the
    cost of securities ad1usted for discount/premium
    amorti2ation3 and other assets in the fund$
    1$ Sin(ing 0und ' set aside for the liquidation of long term%debt
    &bonds)
    I$ /he classification is parallel to the
    classification of the related liability
    b$ ,nder the administration of the entity
    *ntries )roforma4
    S0 Cash xx
    1) Cash
    &/ransfer of Cash to S0)
    2) S0 Income
    &Interest/5ividends from S0 Securities)
    #) S0 Securities
    &Sale of S0 Securities)
    1) Cash &-eturn of -esidual Cash to 6en$ 0und) xx
    2) S0 *xpense &Interest/0und *xpenses) xx
    #) S0 Securities &Investing S0 Cash to Securities) xx
    S0 Cash
    Appropriation4
    -etained *arnings xx
    Appropriated -/* for S0
    7reverse entry upon payment of debt
    c$ ,nder the charge of the trustee ' 8Sin(ing 0und '
    /rustee9 is used$
    2$ Insurance 0und ' to meet obligations that may arise on
    certain ris(s on fortuitous events$
    #$ Cash Surrender :alue
    a$ *mployee as the beneficiary ' payments are
    charged to insurance expense
    b$ *ntity as the ;eneficiary '
    I$ /he policy is a life policy
    II$ )remiums for # full years must have
    been paid
    III$ /he policy is surrendered at the end of
    the third year or anytime thereafter
    )ayment
    Insurance *xpense xx
    Cash xx
    Cash Surrender :alue at the end of <ear #
    CS: xx
    Insurance *xpense &current year) xx
    -etained *arnings &1st = 2nd) xx
    If surrendered4
    Cash xx
    CS: xx
    If Insured died4
    Cash xx
    CS: xx
    6ain on "ife Insurance xx
    +$ >ther 0unds ' any excess !ill be reversed
    a$ )reference Share -edemption 0und
    b$ 0und for Acquisition of )roperty
    c$ Contingency 0und
    MARICAR D. CUSI
    0,.5 = >/?*- I.:*S/*./S

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