NOTE: THIS IS A DIAGRAM ONLY. If we apply the compliance model to our operations, this results in key compliance factors and a number of key questions that arise that help us evaluate our operations, short, medium and long term. Profitability is no longer the key concept. There are bigger and more important issues.
Document provided by:
follow up /sr-sheth-co-chartered-accountants
NOTE: THIS IS A DIAGRAM ONLY. Our local environment is now dominated by key concepts that need to be included in our mission if our operations are going to be clean and green and capable of lasting into the future. We ignore them at our peril. If we ignore them, our operations will be short-lived and we will fail to pay the full cost of production and thereby contribute to a short-lived planet. The "compliance model" introduces these concepts.
Document provided by:
A great place to start. Simple, easy to complete, budget workbook in Microsoft Excel, 15pp. Last year, this year's budget and a page for each month. Key in last year's actuals, month by month. Prepare the budget worksheet for the coming year, month by month. You now have a page for each month. Now just key in the actuals for the month and then explain the differences. This is for a national organisation and is therefore a company limited by guarantee. Based on Chart of accounts and an accounting worksheet for a charity NGO (non-government organisation).
NOTE: THIS IS A DIAGRAM ONLY. The key in the future to working out our short, medium and long term success will be compliance factors used in annual reporting. We will have to be prepared to adjust our operations, year-by-year, to guarantee compliance. If we wait a decade, it will be far too late. This brings the compliance model into contact with the reporting entities model and generates a new or enhanced role for the annual report. We expect to see the compliance factors playing a stronger and stronger role in reporting.
Document provided by:
