Short Notes on Accounts – I
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Suspense Account
Remittance
Deposits
Reserve & Reserved Fund
Charged Expenditure
Reserve Bank of India
Appropriation Accounts
Voted Expenditure
Disbursing Officer
Countersigned Contingency
Contract Contingencies
Scale Regulated Contingencies
Special Contingencies
Fully-vouched Contingencies
Contingent Expenditure
Borrowing
Annual Financial Statement or Budget estimate
Public Account
Contingency Fund (Article 267)
Consolidated Fund
Detailed Head
Abstract of Major Head Totals
Departmental Consolidated Abstract
Ways and Means or Cash Balance of the State Govt.
Ways and Means Advance
Appropriation Act
Non-Tax Revenue
Voucher
Initial Accounts
Monthly Balance
Combined Transfer Ledger and Abstract
Currency Chest
Monthly Accounts
Resource
Settlement of Account
Banking Treasury
Non-Banking Treasury
Cash Account and List of Payments
Resource Operation
Appropriation (Allotment)
Re-appropriation
Sinking Fund
Lapsed Deposit
Controlling Officer
Detail Book
Challan/Memorandum
Audit Control
Transfer Entries
Central Audit
Local Audit
Audit against Propriety
Efficiency Audit
Economy Efficiency and Effectiveness of Audit
Currency Officer
Article 150 of Constitution of India
Tax Receipts
ModVAT
Pay and Accounts office
Sector and Sub-sector of accounts
Finance Act
Major head
Finance Account
Proforma Account
Journal and Ledger
Vote on account
Contingent Liabilities
Revenue Deficit
Fiscal Liabilities
Fiscal Deficit
Plan expenditure & Non-plan expenditure
Tax and Non-tax revenue
Revenue Receipts
Capital Receipts
Plus and Minus Memorandum
Public Accounts Committee
Committee of Public Undertaking
Revenue expenditure
Capital expenditure
Treasury inspection by Accountant General (A&E) WB
Performance Budget
InvestmentSuspense Account
When proper classification of accounts is not available, the amount is kept under suspense accounts. The same is subsequently removed to the proper head of account by book adjustment or making payment or recovery.Remittance
(a) Remittance of money—The Reserve Bank of India remits money from one place to another to meet the local demands of public. The said remittance is made by Telegraphic transfer or by the Bank Draft.
(b) Debits and Credits are cleared either by receipts or payments in cash or by book adjustment under the relevant service head of account.Deposits
Money received at Treasury for deposit in Public accounts are classified as under:
(i) Revenue Deposit.
(ii) Civil Court Deposit.
(iii) Criminal Court Deposit,
(iv) Personal Deposit.Reserve & Reserved Fund
The said fund is opened for a specified purpose. There are several Reserves and Reserved Funds in the Deposit Section of the accounts of the Central or the Sate Govt. The said fund is made out of public contribution or grants from revenue of the Central or the State Govt. or from outside agencies.Charged Expenditure
The estimate as relates to expenditure charged upon the Consolidated fund shall be submitted to the Legislature for the purpose of discussion only, but the same could not be produced to the Vote. Separate items are mentioned in the Constitution to make the expenditure charged on the Consolidated Fund of the Union or the State respectively.Reserve Bank of India
(i) The control of Resource operations of the Govt. of India and the State Govt. is vested in the Reserve Bank of India.
(ii) The Responsibilities of conducting treasury business including settlement of inter Govt. transactions,
(iii) The Reserve Bank of India has got the right to issue notes and coins.Appropriation Accounts
The said accounts are prepared by the Accountant General on behalf of C. A. G. who submits the same to the Govt. The objects of these accounts are to show the expenditure made during the financial year item-wise as specified in the Appropriation Act passed by the Legislature.Voted Expenditure
The estimate as relates to other expenditure (except charged expenditure) shall be submitted in the form of Demand for grants to the Parliament or the State Legislature as the case may be for the purpose of voting of such grants and passing the same.Disbursing Officer
Disbursing Officer means Head of Office and also any Gazetted Officer of Department of Head of Department to draw bill and make payment of behalf of the Govt.
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