3

Non -Established Post

80,000

End of Service Benefits

120,000

Car Maintenance Allowances

40,000

Other Staff Costs

12,000

Cleaning Costs

3,000

Office Consumables

5,000

Subsidies

10,000

Social Benefit Cost

35,000

Grants to Local Government

60,000

Property Plant and Equipment at Cost

400,000

Accumulated Consumption of PPEs

45,000

Investments

80,000

Loans and advances

20,000

Cash and equivalent

36,000

Other expenditures

15,000

Domestic Debt

180,000

External Debt

320,000

Interest Expense

40,000

Accumulated Fund (CR)

156,000

Additional Information

i) It is the policy of government to charge consumption of fixed capital on cost. Property plant and equipment is consumed at the rate of 20% per annum

ii) Fees amounting to GHS 20,000,000,000 was earned but not received as at 31 December, 2019

iii) Staff allowances of GHS 500,000,000 remained unpaid at the end of the year

Required:

Prepare in compliance to the IPSAS and the Public Financial Management Act 2016 (Act 921) for the Consolidated Fund

a. Statement of Revenue and Expenditure for the year ended 31 December, 2019 (5 marks)

b. Statement of Financial Position as at 31 December, 2019 (5 marks)

c. Notes to the accounts (5 marks)

(Total 15 marks)