OFFICE PROCEDURE ACCOUNTANCY NOTES

 

What is a report?

A report is a formal statement prepared by an investigator or researcher on completing an investigation or research or inspection of an event or problem or subject including detailed explanations of facts, findings, conclusions, and recommendations.

What is an audit report?

A report prepared by an auditor to provide the information and facts revealed after the examination of the books of accounts of an organization is known as an audit report.

What is an academic report?

A report prepared by the students during or after the completion of a study on the basis of the investigation over a specific subject is known as an academic report.

What is a government report?

A report prepared by the government authority to prove the information of its plans and achievement for its own purpose or public knowledge is known as a government report.

 

What is a committee report?

A report prepared by a specific committee or commission to provide information about their finding, facts, and suggestions after the completion of investigation and research is known as a committee report.

What is an annual report?

A report prepared by an organization or association to provide information on activities performed during a particular year is known as an annual report.

What is a report? Explain different types of reports.

A report is a historical statement that presents the performance, progress, achievements, and problems of the organization. It is the formal statement prepared by an investigator or researcher on completing an investigation or research or inspection on an event or problem or subject including detailed explanations of facts, findings, conclusions, and recommendations.

Reports are written with varying objectives. The following are some of the important types of reports written with different objectives: -

1. Audit report
   A report prepared by an auditor to provide the information and facts revealed after the examination of the books of accounts of an organization is known as an audit report. In government offices, Auditor General prepares an audit report, and in private organizations, it is prepared by the private auditors having audit licenses.
   
   
2. Annual report
   A report prepared by an organization or association to provide information on activities performed during a particular year is known as the annual report. It is called an annual report because it is prepared to state the performances of the office of a particular year at the end of the fiscal year.
   
   
3. Committee report
   A report prepared by a specific committee or commission to provide information about their finding, facts, and suggestions after the completion of investigation and research is known as a committee report. Different committees are formed for specific purposes. They prepare a report after the specific task completes which is called a committee report or commission report.
   
   
4. Government report
   A report prepared by the government authority to prove the information of its plans and achievement for its own purpose or public knowledge is known as a government report. It is prepared by forming a committee or commission from time to time.
   
   
5. Academic report
   A report prepared by the students during or after the completion of the study on the basis of the investigation over a specific subject is known as the academic report. It is also called an educational report. Generally, the students of the post-graduate level write this type of report as the thesis.

 

 

State the objectives of the report.

 

The following are the main objectives of the report: -

1. To submit the information to the board and shareholders about the activities, challenges, performance, progress, achievements, and problems of the organization.
2. To present information to all the interested parties about the real performance, position, and condition of the organization.
3. To inform the concerned authority whether the office is rendering services to the customers and people efficiently.
4. To evaluate the effectiveness of the supply of the goods and services by the office and its impact upon the general people.
5. To inform the concerned authority about the completion of the assigned job and its contribution to the successful operation of the organization.
6. To disclose the findings of the survey, inspection, investigation, and research for the knowledge of the general people.
7. To share the knowledge, skill, and experience gained by performing official activities for a long period of time.
8. To know the delay in the office procedures, and reasons of delay and to form the ways of overcoming such delay, wastage, inefficiency,      and loss.
9. To provide guidelines in preparing official plans and policies by supplying real facts and information about the official activities.
10. To give opinions, suggestions, and recommendations in official activities which serve as a guide to the staff in carrying out the official activities more efficiently.

 

State the factors to be considered before drafting a report.

 

A report is a formal and reliable source of information. It is a strong basis for formulating plans and policies and taking administrative decisions. Since report writing is a specialized job. The report writer requires expertise, skill, and experience for drafting a report. It should be drafted by the report writer quite seriously. Hence, the following factors should be considered while drafting a report: -

1. The report writer should state the heading of the report on its top. The heading includes the date on which the report is written, the name(s) of the people to whom the report is written, and the subject of the report.
2. The report writer should state the objectives of writing the report and the period of time the report covers.
3. The report writer should state the activities, performance, progress, achievement, challenges, problems, strengths, and weaknesses of the organization in an orderly manner.
4. The report writer should state the findings of the survey or inspection or investigation or research, process and execute the findings for the benefit of the organization in an orderly manner.
5. The report writer should state his opinions, suggestions, and recommendations which allow the organization to make a plan and execute its activities.
6. The report writer should write the report clearly, concisely, completely, correctly, and politely using simple words.
7. The report writer should present the data and information in an appropriate table, chart, and diagram.
8. The report writer, as far as possible, should not use code and symbols in the report. If the code and symbol are used, the meaning of such code and symbol must be given clearly.
9. The report writer finally should make the signature and mention the date on the report.

 

What is a resolution? Explain the types of resolution.

Resolution is the written proposal forwarded to the meeting for discussion and final decision through the agreement of all participating members. It is one of the important procedures in an office. It can be passed for formulating plans and policies, raising funds, an election of the director, appointment the auditor, declaration of dividends, and so on.

According to company act 2063, resolution can be divided into two types:

Ordinary Resolution

The resolution which is presented in regular meetings and can be decided by more than 50% of the total members or shareholders is called ordinary resolution. The decision on such a resolution is passed by a simple majority of shareholders holding more than 50 % of the total shares presented in the meeting. The following subject matters fall under ordinary resolution: -

• Audited final accounts of the previous year
• Appointment of directors and auditors
• Declaration of dividend
• Amendment or formulation of rules and regulations etc.

Special Resolution

The resolution which is presented in urgent meetings and can be decided by at least 75% of the total members or shareholders is called a special resolution. Decisions on such resolutions are passed by the shareholders holding at least 75% or 3/4th of the total shares presented in the meeting. The following subject matters fall under special resolution: -

• Alternation in Memorandum of Association and Article of Association
• Conversion of the company from private to public limited
• Winding p of the company
• Issuing bonus shares
• Changing the name, objective, and capital of the company, etc.

 

 

What is resolution? State its importance.

Resolution is the written proposal forwarded to the meeting for discussion and final decision through the agreement of all participating members. It can be passed for formulating plans and policies, raising funds, the election of the director, appointment the auditor, declaration of dividends, and so on.

A resolution is basically concerned with important subject matters regarding the preparation of plans, policies, rules, and regulations. Its main importance can be listed as follows:

1. It helps the management for making effective decisions.
2. It helps an organization to make formal decisions in a democratic way.
3. It helps to amend the present procedures, rules, and regulations.
4. It helps an organization formulate necessary rules and regulations for the efficient operation of official activities.
5. It provides legal formalities to the decision of a problem.
6. It guides and directs the staff in solving official problems.
7. It helps for the settlement of misunderstandings and disputes as it provides documentary evidence.
8. It clarifies the confusing and unclear rules, regulations, and laws.

 

 

What are the objectives of resolution?

The main objectives of resolution are as follows: -

• To make a formal statement for any subject or problem.
• To make a formal and legal decision in a democratic way.
• To help to amend and formulate effective rules and regulations.
• To provide documentary evidence.
• To guide and direct the staff in solving official and administrative problems.