Consolidated Fund (1)

7/24/2019 Consolidated Fund (1)

1/36

CHAPTER 8

CONSOLIDATEDFUND


2/36

LEARNING OBJECTIVE

Defne und accounting

Determine the objectives o und accounting

Identiy the characteristics o und accounting

Discuss the reguatory rame!or" andreationshi# bet!een three ty#es o

Consoidated $und Describe the three ty#es o Consoidated $und%

namey& Consoidated Revenue Account%Consoidated Trust Account and Consoidated'oan Account

LO 3

Apply the concepts and ss!es "ele#ant to p!$lc

secto" acco!ntn% and "epo"tn%&

LEARNING OUTCO'ES


3/36

(hat s )!nd acco!ntn%*

INTRODUCTION

The accounting or each und #roduces its o!no#erating statement and baance sheet(

Jones and Pendlebury (2010)

A fsca and accounting entity !ith a sel)+$alancn% set o)acco!nts recording cash and other fnancia resources

together !ith a reated iabiities and residua e)uities orbaances and changes therein !hich are se%"e%atedor

the #ur#ose o carrying on spec,c act#tes or attainingcertain o$-ect#esin accordance !ith specal

"e%!latons. "est"ctons o" l/tatons(

US National Council Governmental Accounting Statement No 1 (1!!")


4/36

INTRODUCTION

(hat a"e the o$-ect#es o) )!ndacco!ntn%*


5/36

INTRODUCTION

(hat a"e the cha"acte"stcs o) )!ndacco!ntn%*


6/36

REGULATOR0 FRA'E(OR1OF CONSOLIDATED FUND


7/36


8/36


9/36


10/36


11/36

A ty#es o money or revenue received e*ce#t or oansand trusts are to be accounted or in the ConsoidatedRevenue Account + ,ection -.a/ o the $inancia Procedure

Act 012-3( 4sed to maintain o#erating e*#enditures(

CONSOLIDATED REVENUEACCOUNT


12/36

CONSOLIDATED REVENUEACCOUNT


13/36


14/36


15/36


16/36


17/36


18/36

CONSOLIDATED TRUSTACCOUNT

Estabished to account or a recei#ts and #aymentsto trust unds and monies received by governmentor s#ecifc #ur#oses +,ection -.c/ o the $PA 012-3(

5A, 6o( 7 Consoidated Trust Account

Com#rise o

5overnment Trust $unds

Pubic Trust $unds

De#osits


19/36


20/36


21/36


22/36


23/36


24/36


25/36

CONSOLIDATED LOANACCOUNT

,ec - .b/ o $PA 012- a moniesreceived by !ay o oan sha be "e#t inthe Consoidated 'oan account(

The oan amount is transerred into theDeveo#ment $und% Housing 'oan $undor other und authorised by Pariament%

de#ends on #ur#ose oan !as raised(5A, 2 o PP9 Consoidated 'oan

account issued on Dec :;;7 ande


26/36

>ain sources rom domestic borro!ing .oca ban"and fnancia institutions/ and e*terna borro!ings.?ord @an" and I>$/

Art 000 o $ed Const ega rame!or" or

government to underta"e domestic and e*ternaborro!ings(

Pariament has #assed 1 a!s authorie governmentto raise oan Domestic 'oans .Interna @an"Brdinance 0128% 'oans 'oca Brdinance 0121%Treasury @is 'oca Act 01=7 and 5overnmentInvestment Act 018

E*terna 'oan Act 01= .E*tended Credit Act 01==%Deveo#ment $und Act 01==% 'oans .Asian Dev @an"/Act 01=8 and 'oans .Isamic Dev @an"/ Act 01--



27/36


CONSOLIDATED LOAN


28/36

'alaysan Go#e"n/ent Sec!"tes@onds issued on ong term basis to

fnance $edera 5overnment E*#enditure

Registered stoc"s avaiabe to the mar"etby tender and managed by @an" 6egara

>ajor subscribers Petronas% EP$% @,6

T"eas!"y Blls

,hort term oan issued #eriodicay tofnance the redem#tion cost o maturedbis

>ajor subscribers commercia ban"s and

discount houses


CONSOLIDATED LOAN


29/36

Go#e"n/ent In#est/ent Iss!es

Issued based on Isamic #rinci#es to

com#ement measures in controinge*cess i)uidity in the fnancia system

>ajor subscribers @an" Isam and other

interest ree fnancia institutionS!2!2

Isamic e)uivaent bonds


CONSOLIDATED LOAN


30/36

External

Borrowing


CONSOLIDATED LOAN


31/36

'oans obtained !ith imits o borro!ing basedon E*terna 'oan Act 01=% the ceiing under theAct is R>; biion

'a"2et Loans'oans obtained rom internationa fnancia

institution% !hich negotiated at common mar"etrates raised or genera #ur#ose

,yndicated 'oan grou# o ban"s that #rovideoans and the interest #ayabe based on theoating rate basis o 'I@BR% FE6 or ,?I,,$RA6C


CONSOLIDATED LOAN


32/36

@ond Issues 'oan rom the government in To"yo%$rn"urt% Amsterdam and Gurich

$oating Rate 6otes e*terna oans !here theinterest #ayabe is based on $oating Rate and has

a maturity #eriod bet!een 0; and ; years"o-ect Loans

@orro!ings in terms o money% services andtechnica studies% !hich are secured or s#ecifc

deveo#ment #rojects

Bbtained rom mutiatera .?ord @an"% Asia Dev@an"% Integrated Dev @an"% and biatera .govt togovt basis >sia and a#an(



33/36


34/36


35/36


36/36

Consolidated Fund (1)

Documents