I have just been posted to the Office of the Accountant General Department of Jamaica. The AGD is responsible for the consolidation of Government accounts. You have been asked to analyze the information given below in the Trial Balance of the Consolidated Fund for the year ended December 31, 2017. Direct tax revenues due to government but were not received at December 31, 2017 amounted to $49,000,000 An established post salary in arrears as a result of salary increment in the fourth (49) quarter of 2017 was $56,000,000 and goods and services outstanding at the end of the year amounted to $12,000,000.00 The grant shown in the trial balance as expenditure represents statutory transfer to the Contingency Fund (CF). Any arrears in the CF should be treated as payable. The current rate of transfer is 7.5% on the amount received Public debt interest of $14,000,000 was due to credators but was not paid as at December 31, 2017 v) CR (000) 6,941 7.716 1,156 1.258 11.120 13,462 7,456 17,422 2,235 Required a) Prepare in a form suitable for publication and in accordance with the relevant Financial Laws and IPSAS: DESCRIPTION Established post salanes Non-established post salaries Casual labour cost Administration cost Conferences and seminars Foreign travel cost Grants Subsidies for consumption Subsidies for production Social benefits Domestic debt interest External debt interest Purchase of motor vehicle Purchase of equipment Purchase of shipping container Construction of infrastructure Equity and security investment Loans and advances Cash and bank Reserves Other expenditures Accumulated fund DR (000) DESCRIPTION 6,762 Direct aces 2,008 Indirect taxes 234 Non tax revenues 3,352 Grants 1,235 Treasury bulls 745 Bonds on GSE 825 Euro bonds 641 Bilateral and multilateral debts 361 Trust funds and deposits 38 I 1,453 1.741 247 i. Statement of Financial Performance of the Consolidated Fund for the year ended December 31, 2017 (show all workings clearly) ii. Statement of Financial Position of the Consolidated Fund as at December 31, 2017 (Show all workings clearly) b) Identify the IPSASs that cover Cash Basis Accounting; outline mandatory disclosure requirements for presentation of financial statements 42 560 560 980 67 860 910 44,758 68,766 68.766 Additional information: 1) It is the policy of the Accountant General to adopt accrual basis of preparing the public accounts of the Consolidated Fund for the first time in compliance with the Financial Administration Regulations and the International Public Sector Accounting Standards (IPSAS). The effective date is December 31, 2017 The current Chart of Accounts based on the FAA 2005 is used in the classification of revenues and expenditures Consumption of fixed capital charged on cost for the year has been computed as $156,000,000 m Co I have just been posted to the Office of the Accountant General Department of Jamaica. The AGD is responsible for the consolidation of Government accounts. You have been asked to analyze the information given below in the Trial Balance of the Consolidated Fund for the year ended December 31, 2017. Direct tax revenues due to government but were not received at December 31, 2017 amounted to $49,000,000 An established post salary in arrears as a result of salary increment in the fourth (49) quarter of 2017 was $56,000,000 and goods and services outstanding at the end of the year amounted to $12,000,000.00 The grant shown in the trial balance as expenditure represents statutory transfer to the Contingency Fund (CF). Any arrears in the CF should be treated as payable. The current rate of transfer is 7.5% on the amount received Public debt interest of $14,000,000 was due to credators but was not paid as at December 31, 2017 v) CR (000) 6,941 7.716 1,156 1.258 11.120 13,462 7,456 17,422 2,235 Required a) Prepare in a form suitable for publication and in accordance with the relevant Financial Laws and IPSAS: DESCRIPTION Established post salanes Non-established post salaries Casual labour cost Administration cost Conferences and seminars Foreign travel cost Grants Subsidies for consumption Subsidies for production Social benefits Domestic debt interest External debt interest Purchase of motor vehicle Purchase of equipment Purchase of shipping container Construction of infrastructure Equity and security investment Loans and advances Cash and bank Reserves Other expenditures Accumulated fund DR (000) DESCRIPTION 6,762 Direct aces 2,008 Indirect taxes 234 Non tax revenues 3,352 Grants 1,235 Treasury bulls 745 Bonds on GSE 825 Euro bonds 641 Bilateral and multilateral debts 361 Trust funds and deposits 38 I 1,453 1.741 247 i. Statement of Financial Performance of the Consolidated Fund for the year ended December 31, 2017 (show all workings clearly) ii. Statement of Financial Position of the Consolidated Fund as at December 31, 2017 (Show all workings clearly) b) Identify the IPSASs that cover Cash Basis Accounting; outline mandatory disclosure requirements for presentation of financial statements 42 560 560 980 67 860 910 44,758 68,766 68.766 Additional information: 1) It is the policy of the Accountant General to adopt accrual basis of preparing the public accounts of the Consolidated Fund for the first time in compliance with the Financial Administration Regulations and the International Public Sector Accounting Standards (IPSAS). The effective date is December 31, 2017 The current Chart of Accounts based on the FAA 2005 is used in the classification of revenues and expenditures Consumption of fixed capital charged on cost for the year has been computed as $156,000,000 m Co