Annual Financial Statement(AFS)
"Annual Financial Statement" is an official financial document prepared by an institution, panchayat, or organization that includes the income, expenses, assets, and liabilities for a financial year.
The main purpose of this document:
- Clarify the financial status for one year.
- Record income and expenses accurately.
- Ensure financial control and transparency.
Typically included in the annual financial statement are:
- വരവ്-ചെലവ് കണക്ക് (Income & Expenditure)
- രസീത്-പേയ്മെന്റ് കണക്ക് (Receipt & Payment Account)
- ബാലൻസ് ഷീറ്റ് (Balance Sheet)
- Bank/Investment Information
- Asset-Liability Information
- Figures Compared to the Budget
The financial matters of local self-governance institutions in Kerala are prepared in accordance with the rules of the Local Self Government Department
