Frans van Schaik Objective s of project The objective of the project is to develop financial reporting guidance on financial statement discussion and analysis. Scope The project applies to all public sector entities, other than Government Business Enterprises GBEspreparing and presenting financial statements under the accrual basis of accounting. Issues Issues the project will consider include but are not necessarily limited to: What are the objectives of narrative reporting on financial statements?
Vote 60 — Operating expenditures, Vote 65 — Capital expenditures, and Vote 70 — Grants and contributions. Return to table 2 note a referrer Note b Total Authorities Used: The total authorities used during the year and shown in Note 3 of NRC's consolidated financial statements.
These include voted authorities and statutory authorities. Return to table 2 note b referrer Note c Total Funds Spent: Discussion and analysis Uncertainties NRC funds the majority of its salary, operating and capital expenditures from parliamentary authorities. NRC owns and manages specialized buildings and facilities across Canada that comprise approximatelysquare meters of space.
Through its 5 year investment plan, NRC is investing appropriate funds to maintain its buildings and laboratories.
For certain new initiatives, it is the practice of the government to provide funding on a sunsetting basis. Rather than providing a permanent increase to parliamentary authorities, the government may allocate funding for specified purposes for a limited period of time with a renewal option.
Renewal is conditional on various factors including performance, achieving desired objectives, linkages to priorities, and availability of funds. New government-approved initiatives often entail ongoing commitments from NRC such as maintenance of new facilities and new staff salaries.
There may be stakeholders that support these new initiatives, and in some cases invest in them, with expectations that the initiative will exist beyond the original funding window.
These challenges add complexity to planning, budgeting and operations. Currently, NRC has numerous initiatives and projects funded on a sunsetting basis, examples of which include the following: Transforming the National Research Council: GRDI supports policy objectives in human health, agriculture and food safety, environment and natural resources management.
In its normal course of operation, NRC makes some of its purchases in foreign currencies which exposes it to foreign exchange risk. NRC activities generate revenues which can be reinvested in its operations.
NRC is focused on increasing its external revenue generating activities to strengthen its future financial sustainability. However, significant unexpected downturns affecting industries or government partners of NRC could impact its ability to fund operations.
Variance and Trend Analysis The following analysis describes the main items appearing on the consolidated financial statements and provides analysis of significant variances and financial trends.
NRC's liabilities consist of the following: Accounts Payable and Accrued Liabilities: The following shows the three largest categories:Summary of Statement No.
34 Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments Management's discussion and analysis (MD&A). MD&A should introduce the basic financial statements and provide an analytical overview of the government's financial activities.
Financial statement discussion and analysis (PDF, KB). Introduction. The following Financial Statement Discussion and Analysis (FSD&A) should be read in conjunction with the audited consolidated financial statements and accompanying notes for the National Research Council of Canada (NRC) for the fiscal year ended March 31, Financial statement discussion and analysis is an explanation of the significant items, transactions, and events presented in an entity’s financial statements and the trends and factors that influenced them.
Management discussion and analysis (MD&A) is the portion of a public company's annual report in which management addresses the company’s performance over the previous twelve months. In this.
Commission Statement about Management's Discussion and Analysis of Financial Condition and Results of Operations Agency: Securities and Exchange Commission ("Commission many readers of financial statements have cited a lack of transparent disclosure about transactions with unconsolidated entities and other parties where that .
Management’s Discussion and Analysis and Financial Statements Second Quarter Ended June 30, ONEX AND ITS OPERATING BUSINESSES Onex is a public company whose shares trade on the Toronto Stock Exchange under the symbol ONEX. MANAGEMENT’S DISCUSSION AND ANALYSIS.