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At a minimum, financial statements consist of a statement of assets and liabilities and a statement of revenue and expenditures for the fiscal period. They should show the different sources of a registered charity's revenue and how it spent its money.
(CRA : Charities Glossary)
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The chart of accounts is the master list of account codes (consisting of numbers and/or letters) and account names used to classify, record, budget, and report financial transactions in a general ledger.
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Personal use property refers to items that you own primarily for the personal use or enjoyment of your family and yourself. It includes all personal and household items, such as furniture, automobiles, boats, a cottage, and other similar properties. It also includes listed personal property.
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Description: Land, and buildings or other structures permanently attached to land.Examples: A family home, a cottage, or a vacant piece of land.The value of real property for tax receipt purposes is its fair market value. You should almost always get an appraisal or valuation from a professional...
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A fiscal period is the 12 months (or, for incorporated charities, a period of up to 53 weeks) covered by the charity's financial statements. Many registered charities have a fiscal period that is the same as the calendar year (that is, their fiscal period is from January 1 to December 31); others...
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An activity that relates to and supports a charity's purpose and is a reasonable way to achieve it.
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Qualified donees are generally organizations that can issue official tax receipts for gifts.
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Description: Capital property includes depreciable property, and any property that, if sold, would result in a capital gain or a capital loss. Capital property does not include the trading assets of a business, such as inventory.
Examples: The following properties are generally capital...
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Generally, a gift is a voluntary transfer of property to a charity that is intended to enrich the charity.A service (that is, providing time, skill or effort) is not property and, therefore, is not a gift.
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A legal document that sets out the fundamental principles and structure of an organization that is not a corporation.
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