Du er her:
Contents of final accounts
- As an annex to this appendix there is an example of a project accounts which comply with these requirements.
- The project accounts must be prepared in a clear manner in accordance with current regulations. Furthermore they must contain all additional information necessary for the understanding of the presentation of the project accounts for the relevant grant.
- The accounts must justify the use of the subsidy funds in the project period and specify unspent funds. Unspent funds are understood to mean subsidy funds which are not yet used in accordance with the purpose of the project.
The final project accounts must contain the following:
- Management endorsement
- Independent auditor’s report
- Applied accounting policies
- Accounting statement
- Statement of profit and loss
- Any appendices
These constitute a whole.
Identification of the accounts should clearly indicate the name of the partner organisation, the project and the grant. It must also include the file number and accounting period.
The project accounts must be endorsed by the senior management of the partner organisation, whose signatures are taken as guarantee of their contents.
Independent auditor’s report
Partner organisations receiving subsidies under the DPOD Mini Programme Agreement should refer to the audit regulations in appendix 2.
Applied accounting policies
The section on the applied accounting policies must contain confirmation that the accounts have been prepared in accordance with these regulations.
In the applied accounting policies the method used for converting foreign currency must be explained. Furthermore, accounting procedures for handling any special circumstances relating to the project, which do not appear in the regulations, must also be explained.
The accounting statement is an independent, written analysis of the accounts submitted, and as such is not part of the final narrative report containing an evaluation of the purpose of the grant.
The accounting statement must contain references to all factors of significance relating to the presentation of the accounts.
The accounting statement must include:
- A summary of the partial results of the project in relation to the specified aims in the application authorised by DPOD.
- An assessment, as to whether the purpose of the grant has been achieved, based on indicators in the authorised project application.
- Evaluation of the quality of the documentation showing whether the funds have been used in accordance with their purpose, including a note of any documentation that is missing, incomplete or defective.
- A statement of any discrepancies between actual expenditure and budgeted expenditure of the subsidy funds to include a statement of budget margin expenditure.
- Information as to whether any funds from the grant remain unspent. This must include a statement of payment to DPOD of bank interest earned and net capital gains.
- Assessment as to whether the purpose of the project has been achieved.
- Assessment of the quality of accounts/reports.
- A statement of over and under expenditure of budget items and the reasons for this.
Statement of profit and loss
Income and expenditure related to the project must be itemized in the statement of profit and loss. Budget figures under the terms of the authorised grant budget must be shown for comparison.
Subsidies from the Mini Programme Agreement must be included in earnings for the relevant project together with contributions from any other sources, including the partner organisation itself.
Items of expenditure must be quoted individually in the statement of profit and loss or itemized in the accompanying notes. At minimum, expenditure shown in the statements of profit and loss must be itemized under the entries which appear in the authorised budget.
All expenditure must:
- relate to the project, i.e. be included in the authorised grant and not be unconnected with the project
- relate to the project in terms of time as defined in the authorised grant
- be entitled to subsidy
- be correctly allocated to each item in the authorised budget for the grant
- have been paid
The position of the notes and their contents must be clear. References must be made to relevant items in the accounts.
The notes must contain the following:
- Itemization of the income of the project. Contributions from all sources must appear in the notes. Transferred subsidy funds from the Mini Programme Agreement must appear separately.
- Contributions and calculations of the partner organisation itself must appear in the notes.
- Should sums of money be paid through several organisations, transfers must be analysed within each unit. Itemization must be in DKK and foreign currency where applicable. The date of transfer and exchange rate must be stated.
- Itemization of the correlation between subsidies paid and the use of these subsidies by the partner organisation involved in the project (possibly several sections). Itemization must be in DKK and foreign currency where applicable.
- Itemization of interest earned from funds from the Mini Programme Agreement.
- Itemization of statement of unspent funds.
When the project has been completed, the final accounts must contain a statement of unspent funds. This statement must be accompanied by a written declaration regarding the use of the funds which may be included in the accounting statement or submitted together with the financial calculations.
An appendix must accompany the project accounts where indicated in the accounts. In addition an appendix may be included where the partner organisation considers this essential to the understanding of the accounts.
When DPOD has given authorisation for funds to be used for investing in fixed assets, the accounts must contain an inventory of such assets stating realised and budgeted acquisition value.