Accounting Essay

The IIHF based in May 15, 1908 in Paris, France, is governing physique of the international ice hockey and inline hockey. The IIHF options 72 member associations, every of which is the nationwide governing body of the sport in its nation. Besides controlling the international rulebook, processing international player transfers, and dictating officiating tips, the IIHF runs numerous development applications designed to deliver hockey to a broader inhabitants. Besides the world championships, the IIHF additionally runs a set of European club competitions. In 2008, the IIHF celebrated its a hundred yr anniversary, honouring it with a most formidable new projects together with naming the century all star staff.

Q1: what are the clubs primary sources of income? The golf equipment primary sources of incomes are the registration fees that value R400 per participant that indicators up as nicely as the charges that we cost every year depending on the age group that the players are such because the intermediate and senior gamers pay R2800 per annum, the under 12 gamers that pay R2200 each year and the trial gamers that can come on a Sunday morning and pay R50 per session that contains a stick and helmet that they receive before they start their practice

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Q2: what are the golf equipment main sources of expenditure? The clubs primary sources of expenditure could be the payment of the ice rink for renting for our practices on Sunday mornings as properly as the salaries and wages of our trainers and managers, the affiliation fees, refreshments, repairs to the kits as properly as new gear for our trainers etc.

as well as the video games on Monday nights and games in addition to the national and worldwide games which have handed. Our other sources of expenditure could be the purchasing of new tops for our players for them to use as we’re soon beginning the western province trials as well as later within the year the south African staff trials.

Q3: what ledger accounts are you utilizing in your system in order to document these incomes and expences, specializing in those which are completely different from businesses? The ledger accounts we use are…the membership charges, enterance fees, refreshments, membership badges, honourium, affiliation fees and revenue and expenditure.

Q4: what management measures have you ever got in place in the preserving of ledgers? When cash is received should be recorded in the supply documents(cash register roll, money receipt) The proprietor or supervisor must log out on all funds made

Money obtained the previous week should be banked in at the beginning of each week. A trial balance should be accomplished on the finish of every month to see if any irregularities have occurred.

Q5:what’s your policy relating to the collection of membership charges including the way you cope with extraordinary objects eg. Writing off of membership charges etc. Members get written off in the occasion that they haven’t paid there fees earlier than we’re half method by way of the season If members pay their fees up entrance they get a voucher for the tuck shop, bar, coffee shop or online clothing shop If members pay late they’re charged 15% curiosity for each month that they’re charges are late up till 6 months when they get written off

Q6: what is your stock holding policy and the way is the promoting value determined?

Q7: what management measures do you employ in the shop?

Q8: what management measures do you have in the bar/coffee shop and tuck shop?

Q9: what workers do you’ve and what control measures do you have on this respect?

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