Certified Forward A process where the remaining budget for a fiscal year may be carried forward into the subsequent fiscal year and used to pay for obligations that were incurred in the original year. of Accounts The list of account titles you use to keep your accounting records. CO View Workbook The CO View Workbook is an Excel file consisting of multiple linked tabs. Data for this workbook is acquired from three primary sources: The CBC Annual Budget by Service Category entered by Central Office – Monthly expenditure data from the Lead Agency’s Actual Expenditure Reports entered by the – Contract Manager. The Invoice from the Lead Agency requesting monthly fixed payments entered by the Contract – Manager. The purpose of the workbook is to provide the Contract Manager with a budget position statement by funding source with year-to-date totals. Current Ratio A measure of liquidity; current assets divided by current liabilities. Custom Report A report submitted by the Lead Agency at the request of the Contract Manager which contains specific transaction details. Deferral Any account where the asset or liability is not realized until a future date, e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, dependent on type of deferral, as either an asset or liability. Depreciation Depreciation is the amount of expense charged against earnings by a company to write off the cost of a plant or machine over its useful live, giving consideration to wear and tear, obsolescence, and salvage value. If the expense is assumed to be incurred in equal amounts in each business period over the life of the asset, the depreciation method used is straight line (SL). If the expense is assumed to be incurred in decreasing amounts in each business period over the life of the asset, the method used is said to be accelerated. Two commonly used variations of the accelerated method of depreciating an asset are the sum-of-years digits (SYD) and the double-declining balance (DDB) methods. Frequently, accelerated depreciation is chosen for a business' tax expense but straight line is chosen for its financial reporting purposes. Direct Cost A cost that can be directly traced or assigned to an activity or service. For instance the cost of adoption support staff that provides non-case management services.
Certified Forward A process where the remaining budget for a fiscal year may be carried forward into the subsequent fiscal year and used to pay for obligations that were incurred in the original year. of Accounts The list of account titles you use to keep your accounting records. CO View Workbook The CO View Workbook is an Excel file consisting of multiple linked tabs. Data for this workbook is acquired from three primary sources: The CBC Annual Budget by Service Category – entered by Central Office Monthly expenditure data from the Lead Agency’s Actual Expenditure Reports – entered by the Contract Manager. The Invoice from the Lead Agency requesting monthly fixed payments – entered by the Contract Manager. The purpose of the workbook is to provide the Contract Manager with a budget position statement by funding source with year-to-date totals. Current Ratio A measure of liquidity; current assets divided by current liabilities. Custom Report A report submitted by the Lead Agency at the request of the Contract Manager which contains specific transaction details. Deferral Any account where the asset or liability is not realized until a future date, e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, dependent on type of deferral, as either an asset or liability. Depreciation Depreciation is the amount of expense charged against earnings by a company to write off the cost of a plant or machine over its useful live, giving consideration to wear and tear, obsolescence, and salvage value. If the expense is assumed to be incurred in equal amounts in each business period over the life of the asset, the depreciation method used is straight line (SL). If the expense is assumed to be incurred in decreasing amounts in each business period over the life of the asset, the method used is said to be accelerated. Two commonly used variations of the accelerated method of depreciating an asset are the sum-of-years digits (SYD) and the double-declining balance (DDB) methods. Frequently, accelerated depreciation is chosen for a business' tax expense but straight line is chosen for its financial reporting purposes. Direct Cost A cost that can be directly traced or assigned to an activity or service. For instance the cost of adoption support staff that provides non-case management services.
Monthly%20CBC%20Invoice%20Review%20Checklist_July2017.docx