Short Notes on Accounts – I
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August 25, 2012 at 3:15 pm #73772
Anonymous
InactiveConsolidated Fund
There are separate funds for the Union and the State i. e. the Consolidated Fund of the Union and the Consolidated Fund of the State.
(a) Revenue Receipts and Disbursements.
(b) Capital Receipts and Disbursements.
(c) Public Debt, Loans and Advances (Treasury Bill and Ways and Means Advances).August 25, 2012 at 3:16 pm #73773InactiveDetailed Head
For the purpose of item-wise control over expenditure and indicate the object and nature of expenditure on a scheme out of Consolidated Fund in terms as object of classification as ‘Detailed Head’ viz. Salaries, Office expenses, Grant-in-aid, Loan etc.August 25, 2012 at 3:17 pm #73774InactiveAbstract of Major Head Totals
The final stage of compilation is Abstract of Major head totals from the Departmental consolidated Abstracts and the Consolidated Abstract of Debt, Deposit and Remittance transactions. Abstract of Major head total shows major head-wise total of Receipts and Disbursements of the account circle during and at the end of the month.August 25, 2012 at 3:18 pm #73775InactiveDepartmental Consolidated Abstract
The posting of figures of Revenue Receipts and Payments from the Departmental Classified Abstract and the Consolidated Abstract of Debt, Deposit and Remittance from Detail Book is made into the Department Consolidated Abstract which shows the progressive total of Revenue Receipts and Payments month by months under each Major, Minor and Detailed head of accounts.August 25, 2012 at 3:19 pm #73776InactiveWays and Means or Cash Balance of the State Govt.
Cash balance of Govt. at all times should be sufficient during the year to meet j the requirement of the Government. The forecast of opening balance and monthly incoming and monthly outgoing is to be watched very carefully so that the cash balance never falls unduly low.August 25, 2012 at 3:19 pm #73777InactiveWays and Means Advance
Govt. takes Ways and Means Advances from the Bank as and when required subject to submission of a demand promissory note on behalf of the Governor in this regard. The particulars of advance including interest will be intimated to the Accountant General. Bank will cancel the promissory note in case of final payment. The same should be returned to the Govt. through the Accountant General.August 25, 2012 at 3:21 pm #73778InactiveAppropriation Act
After demand for grant is passed by the Legislature, Appropriation Bill is introduced on account of making expenditure out of Consolidated Fund. Until and unless Appropriation Bill is passed by the Legislature, Government is not authorised to make any expenditure from 1st April. No amendment shall be proposed to any such bill which will have the effect of varying the grant already passed by the Legislature. It covers all the charges including the liabilities of the past years to be paid during a financial year. When the Bill is passed by the Legislature the same will be treated as Appropriation Act.August 25, 2012 at 3:23 pm #73779InactiveNon-Tax Revenue
This is purely an administrative decision. These are generally receipts, in return for supplies and services rendered by the State. The following taxes should he Healed as Non-tax Revenue:
(i) Forest Revenue,
(ii) Royalties, Mines and Minerals,
(iii) Irrigation Receipts,
(iv) Registration fees,
(v) Other Rents and fees,
(vi) Interest charges,
(vii) Penalties.August 31, 2012 at 4:01 pm #73876InactiveVoucher
Voucher means a document on which payment was made to a person with proper acquittance. Detailed particulars are mentioned viz. amount, particulars of goods or works, period, quantity, weight etc.August 31, 2012 at 4:02 pm #73877InactiveInitial Accounts
Initial Accounts means primary records of all monetary transactions of receipts and expenditure maintained by the treasury. At the end of the month the same is submitted to the Accountant General in the form List of Payments and Cash Accounts. P.W.D. and Forest Departments also maintain compiled account in respect of transactions which are not made through the treasury. The same is submitted to the Accountant General monthly. -
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